Here in Canada, we've long been aware of what a national treasure Gordon Lightfoot is.

Gordon Lightfoot has already received at least one honorary degree from a Canadian university: a Doctor of Laws degree from Trent University in Peterborough, in the spring of 1979:

Trent U. Honoray degree recipients

He was inducted into the Canadian Music Hall of Fame in 1986.

As well, he was inducted into The Canadian Country Music Hall of Fame last year:

CCMA Hall of Fame Announcement

He has also been honoured by the Canadian Government, with the Order of Canada in 1970, and the Governor General's award in 1997 (that's as close as you can get to knighthood over here).   

More info in his biography.

What greater honours do you think we can award him, Beer?

Cheers, Hester