The award was bestowed by ambassador Francois Richier at a function at the French Embassy here late last evening to mark celebrations of the French National Day.
"I salute France, it's life art and people on this occasion and accept the honour greatly. I am deeply grateful," Raza said in an acceptance speech read out by friend Ashok Vajpeyi a noted poet and essayist.
The French honour was conferred on the 93-year-old artist in acknowledgment of his "peerless achievements transcending all boundaries, the lasting ties he has forged between France and India, and his continuing artistic quest straddling nations, cultures, religions and philosophies."
The honour is presented on behalf of French President to "not only recognise those who work with us but also all those whom we believe are beautifying the world and making the world better and indeed it is the case of Raza," Richier said.
A short film depicting Raza working in his studio played on a screen in the background while Richier summarised the artist's life and work for an audience that comprised a cross section of people, including fellow artists Kishen Khanna and Ram Kumar who were associated with the Progressive artist's group of the 1950s of which he was a founding member.
A bilingual autobiographical account of the Raza entitled "Un Itineraire" (Itinerary) written originally in French in 2003 and now translated into English was also released on the occassion.
Richier mentioned a recent book "Yet Again," containing nine new essays on Raza edited Ashok Vajpeyi was released earlier this year.
Dressed in a dark coloured suit the wheelchair-bound artist gifted a painting based on his famous Bindu, which he completed recently, to the French Embassy.