Banerjee, who captained the Indian football team in 1982 Asian Games here, was presented a memento and a shawl in a simple function which was attended by seven other MPs from West Bengal.
Banerjee, who was also member of India's Asian Games teams in 1970 and 1974, is the first footballer to have been elected in the Parliament after he won a bypoll from Howrah constituency in June in Trinamool Congress ticket.
"I am really happy and feel honoured by the felicitation by the AIFF. Football is in my blood and I hope to do something for the game as an MP," Banerjee said in the presence of top AIFF officials, including president Praful Patel.
"Indian football is trying to come up and I believe the game will prosper. But I want to make a request. Please appoint Indian coaches instead of foreigners," said Banerjee, younger brother of legendary former Indian football captain P K Banerjee.
"Another request is that the AIFF should recommend Sailen Manna for the Padma Bhushan," he added.
Patel praised Banerjee for his contribution to Indian football and asked to use his influence to build a football-specific international standard stadium in Kolkata.