The Indian team defeated Australia 2-1 in the four-match Test series, ending the country's 71-year-old wait for a rare series win Down Under.
"The SCG congratulates Team India for securing its first Test series win on Australian soil. It is wonderful to see the world's largest cricketing nation putting its focus firmly on Test cricket - a step that will reinforce the pre-eminence of Tests in the global cricketing landscape," SCG Chairman Tony Shepherd was quoted as saying on their official website.
"Virat and Ravi have been at the forefront of that and Test cricket is well served having both placing such significance on the five-day format," Shepherd added.
Taking to Twitter Shastri said: "Great honour and very humbling to get the honorary life membership of the @scg along with @imVkohli #TeamIndia #AUSvIND."
After the Test series victory, India are now scheduled to play a three-match One-day International (ODI) series against Australia.
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