The 33-year-old Beijing Olympic gold medallist was bestowed the honour by ISSF President Olegario Vazquez Rana on the sidelines of the Asia Olympic Qualifying Competition at the Dr. Karni Singh Shooting Range here.
Rifle ace Bindra is gunning for glory at the Rio Olympics, having already secured a quota for the country at the quadrennial extravaganza.
He said his Olympic preparation is headed in the right direction.
He was hopeful of India sending a bigger team to the 2016 Olympics than the one that travelled to London nearly four years ago.
"We might end up having more people in Rio this time," he said, "I am happy with the progress shooting sport has made in India over the years."
Bindra, who shot to fame after clinching the gold medal in 10m air rifle in the summer of 2008 in Beijing, is also the chairman of ISSF's Athletes Committee.