A spokesman for the Governor-General said Sir Paul has been considered a knight from the moment the honour was announced on December 31, but his family had asked for the investiture to be held as soon as possible.
The finer details, such as who will attend the ceremony, are still to be confirmed.
Sir Paul ended his broadcasting career late last year because of ill-health. He had an operation last January for prostate cancer, which returned aggressively later in the year, and also underwent open-heart surgery in June.
After the knighthood was announced, Sir Paul told the Herald it was an unexpected, wonderful gift after a difficult year.
"It feels wonderful. It's just a lovely little bonus at the end of a hard year - and it's been a hell of a year."
He was a late addition to the New Year Honours List, with notification from the Cabinet Office arriving at news media offices eight days after the list of the other recipients.
Sir Paul earned respect from his peers and the public over his 35 years in broadcasting, in particular for his accessible, often quirky coverage of news and current affairs on both morning radio and prime-time TV.
"Current affairs should be something enjoyable," he said. "We should take pleasure in finding out about our issues."
