Clinton is a former first lady, senator and US secretary of state, and unsuccessfully ran against Donald Trump for the presidency in 2016.
She was honoured for having “made history many times over decades in public service,” including being the first woman nominated by a major party for a US presidential run, the White House said in a statement.
Also honoured was billionaire financier and left-wing philanthropist George Soros, whose award was accepted by his son Alexander.
Soros was honoured because he “has supported organizations, and projects across the world that strengthen democracy, human rights, education and social justice”.
