It was announced in June that Mr Hume was to be made a Knight Commander of St Gregory by Pope Benedict XVI.
The honour comes more than 13 years after Mr Hume was awarded a Nobel Peace Prize for his work during the Troubles.
Mr Hume said he felt honoured by the knighthood, which was presented at St Eugene’s Cathedral in the city last Saturday night.
Retired Bishop of Derry Edward Daly said it was a very fitting tribute to a great friend and confidant.
He added: “In calmer and more objective times, when historians look back at the second half of the 20th century here in the north-west, they will certainly look with approval, admiration and appreciation on the leadership, decency, honour and integrity of the work of John and Pat Hume. I would like to think that their faith was a great support and strength to them at times of difficulty and challenge. Truly, blessed are the peacemakers, they shall be called sons of God.”