The "Sherlock" actor will be given the honour, which is one rank below a knighthood, for his services to drama despite being just 38-year-old, reported Metro.
"Benedict is clearly very talented but a CBE is normally for those coming towards the end of their careers," a source said.
Although private and government nominations are ruled upon by a selection committee, some believe Benedict, who is expecting his first child with wife Sophie Hunter, is lucky to be recognised at such a young age.
The awards will be officially announced on Friday night.
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