The 56-year-old hinted about rejecting the honour in an interview with a Radio channel in December, 2012.
Speaking about his decision of not becoming 'Sir Danny Boyle', he said "People fought many battles to make everybody free, equal citizens. I have no reason to believe that being a preferred subject would have any value that could improve the pride I feel in being an equal citizen."
"I'm lucky because I've made money and people like the work I've done but it doesn't make me feel I'm better than anyone," he added.
"You've got to be careful because it sounds like you're criticising other people who have accepted knighthoods, which I'm not doing at all. It's a very personal choice."
Other celebrities who have turned down an honour from Britain's Queen include John Lennon in 1969, and Empire of the Sun author and legendary director Alfred Hitchcock snubbed it in 1962, but he went on to be knighted in 1979.
Boyle won an Academy Award in 2009 in the best director category for his India-set movie "Slumdog Millionaire".