Blanchett, 43, received the doctor of letters in a ceremony at the university's Great Hall on Saturday, according to media reports.
"This means a great deal (to) me as someone who didn't complete my arts degree at Melbourne University - I left to go to NIDA (the National Institute of Dramatic Art)," Blanchett told the Sun-Herald newspaper.
The honour was for Blanchett's "work as an actress and as artistic director of the Sydney Theatre Company, as well as her advocacy of the importance of the arts in education," according to media reports of the official citation.
Blanchett and her playwright husband Andrew Upton are credited with turning around the Sydney Theatre Company's finances during their tenure, which began in 2008 and expires at the end of 2013.
She and Upton announced in January that they would step down as co-artistic directors and CEOs at the end of next year due to Blanchett's overseas film commitments and the pressure of three young children.
Renowned local singer Geoffrey Gurrumul Yunupingu, who is blind and taught himself to play the guitar, was also honoured with a degree for his contribution to music and culture.
24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.
A nurse found hanging after a prank call from two Australian radio presenters about Kate Middleton's first pregnancy blamed herself for the embarrassing release of intimate details of the duchess's condition. Read More »
Outlaw Pete singer Bruce Springsteen has written a children's book based on the opening ballad of his 2009 album Working on a Dream. Read More »
A candid quickie!
The aKING frontman!
The Top 3 couples!
The Top 12!
He's back on TV!
Mother City rockers!
A few simple tricks can make your life so much easier!
GautengInvestong Human CapitalR540 929 - R901 549 Per Year
GautengRensolc Recruitment, GermanyR38 000 - R50 000 Per Month
Western CapeRensolc RecruitmentR35 000 - R55 000 Per Month
HousesR 2 400 000
HousesR 2 300 000
HousesR 2 750 000