The Order of Honour was established in 1975, replacing the Order of George I which had been abolished. It ranks second in order of priority.

It is conferred on Greek citizens who have distinguished themselves in their efforts on behalf of their country in all sectors of public administration, commerce, shipping, industry, science and arts and letters. It is also conferred on foreigners who are judged worthy and have contributed to enhancing Greece's stature abroad.

The final form of the insignia was laid down by Presidential decree in 1984. The cross of the Order is of deep blue enamel. In the centre, the head of the goddess, Athena, is depicted in relief. The head is surrounded by a white enamel band, bearing the inscription "ONLY THE RIGHTEOUS SHOULD BE HONOURED".

The star of the Grand Cross and the Grand Commander has eight radiating points with a blue enamelled cross. On the reverse side of the cross is the emblem of the Hellenic Republic on white enamel, and inscribed in gold letters "HELLENIC REPUBLIC 1975", the year of the Order's founding.

The ribbon accompanying the insignia is, like the cross, a deep blue colour and has a narrow gold border on both edges.

Like the other Orders, the Order of Honour consists of five classes: the Grand Cross, the Grand Commander, the Commander, the Gold and Silver Cross.