Roy Morris, former chef executive of Rathbones and now chairman of the Mersey Partnership, will receive his fellowship in recognition of his services to business and commerce and the regeneration of Liverpool.
He remains a non-executive director of the Liverpool Culture Company Ltd, The Liverpool Women's Hospital and Chairman of Royal Liverpool Philharmonic Foundation.
Nominations for fellow-ships are invited each year from both inside and outside the university.
Candidates are selected on a confidential basis by a special committee representing the Board of Governors, the Academic Board and the Students' Union.
Professor Michael Brown, LJMU's Vice Chancellor, said: "This year's Honorary Fellows have all done much for their specific professions - as scientists,, journalists, artists and business leaders.
"Some have played key roles in the regeneration of Merseyside; others have influenced contemporary life across the UK and beyond.
"Collectively, they demonstrate how, through passion, hard work and perseverance, we can all achieve excellence regardless of the path we choose to follow in our lives and careers."
All of the Fellowships will be presented during LJMU's forthcoming graduation ceremonies between July 24 and 28, 2006.