The award recognises Hancock's significant service to education and on-line research networks, and to Australia-USA relations.
"I'm proud and humbled to receive this acknowledgment," said Hancock.
"It has been a great privilege to work with many of the nation's best and brightest minds to drive the technological developments that empower Australian researchers and educators nationally and globally."
Hancock became CEO of AARNet in 2004. Since then, AARNet has grown into one of the most extensive and advanced networks in the world.
Owned by and interconnecting 38 Australian universities and CSIRO, AARNet connects over two million researchers, faculty, staff and students across Australia, supporting education across the life-long learning spectrum and research across a diverse range of disciplines in the sciences and humanities, and enabling unprecedented opportunities for teaching, learning and research.
Hancock's notable achievements also include securing long-term high-capacity connectivity to Asia through investments in the Indigo and Japan-Guam-Australia subsea cable systems, and leading initiatives to develop the global network architecture for interconnecting the research and education networks of 117 nations.
Hancock's contribution to the development of relations between Australia and the United States includes serving on the board of the Australian American Leadership Dialogue since 2013, and leading the development of the West Coast Leadership Dialogue.