The website said Vichai would be conferred with the title of Doctor of Law by the University of Leicester at a ceremony at De Montfort Hall for his contributions to business, sport and social causes.
Vichai will receive the degree on Friday.
Ave Vinick, of the university's development and alumni relations office, said Vichai was a deserving recipient.
"We are honoured and delighted to welcome Mr Srivaddhanaprabha to the proud worldwide fraternity of University of Leicester alumni.
"His contributions to business, sport, and social causes make him truly deserving of his honorary degree and exemplify the ideals to which our graduates aspire," the website quoted Vinick as saying.