Len Duvall OBE AM, leader of the Labour Group on the London Assembly, was given the honour.
Mr Duvall, who is currently serving as the London Assembly chair, will take on the role alongside his other commitments.
He joined the London Assembly when it was created in 2000, and has since held roles in various other organisations, including chair of the Metropolitan Police Authority.
He was appointed an Officer of the British Empire for services to local government in London and to the Thames Gateway Partnership in 1998.
Mr Duvall said: “It is an immense honour to be elevated to the House of Lords.
“This recognition is not just about me, but about the communities and people that shaped me.
“Growing up on council estates in the Woolwich area taught me the importance of fairness, opportunity and standing up for those whose voices are too often ignored.
“I will take those lessons with me into the Lords and continue to fight for a fairer society.”
He will remain as Assembly Member for Greenwich and Lewisham, leader of the London Assembly Labour Group.
