Vijya Kumar had won silver in men's 25m Rapid Fire Pistol event at the London Olympic Games.
His name figures last in the list of 31 personnel, including 16 Lt Gens and 14 Maj Gens.
Army's women mountaineering team which had scaled the Mount Everest in May last year has also been awarded Vishisht Seva Medal (VSM) for their achievement.
Major N Linyu from Army Medical Corps (AMC), Major Neha Bhatnagar and Capt Namrata Rathore from Corps of Engineers, Capt Smitha L from Signals and Captains Poonam Sangwan, Prachi R Gole and Deepika Rathore from Army Ordnance Corps (AOC) will be awarded the medal for the feat.
The awardees will get their medals from President of India Pranab Mukherjee during the investiture ceremony later this year.
Havildar Laishram Devendro Singh who represented the Indian boxing team in the Olympics but narrowly missed a medal will also be awarded the VSM.