The 63-year-old oversaw Australia's best ever Olympic sailing performance at London 2012 last year, with his sailors claiming three golds in the form of Tom Slingsby in the laser, Malcolm Page and Matthew Belcher in the 470 dinghy and Nathan Outteridge and Iain Jensen in the 49er skiff, while Nina Curtis, Olivia Price and Lucinda Whitty took silver in the women's Elliot 6m.

That bettered Team Australia's previous best performance at the Games in 2000, when they won two gold medals, a silver and a bronze on home waters in Sydney.

A national 470 class champion in his native Ukraine, Kovalenko moved to Australia in 1997, gaining citizenship in 2003, and he has been head coach of Australia's yachting team for more than a decade, overseeing more success at Beijing 2008 with two gold medals and a silver.

"This is very special, as special for me as being granted the Order of Australia Medal," said Kovalenko.

"It is the highest recognition in Australian sport.

"I feel recognition into the Hall of Fame is forever.

"People have the ability to learn about sport in Australia.

"I am so proud to be amongst people who were my heroes."

Since becoming involved in Australian sailing, Kovalenko has been instrumental in securing over 40 international titles in total but cites the achievements at London 2012 as the highlight of his career so far.

"London was a very special moment," he said.

"We reached our goal and personally I reached my goals.

"The Australian sailing team was number one in the world.

"This makes our days from London very special."

Victor Kovalenko (centre) celebrates London 2012 gold with Matthew Belcher (left) and Malcolm Page