Theresa May, the new Prime Minister, and her allies are expected to come under pressure to ensure that there are no concerns that the honours system is being abused.
A senior minister who asked not to be named said that Cameron's list would provoke anger among backbench MPs and Leave-supporting Conservative members.
The minister said: "I don't object to the outgoing Prime Minister giving rewards to people who have given long service in his office but to think that people may have been influenced on their position in the referendum in a bid to be rewarded or that people like Will Straw, who have done nothing to help the Prime Minister and have probably done more to harm the Conservative Party in government, devalues the system and will make a lot of people very angry."
Tom Watson, the Labour deputy leader, said Cameron's attempt to reward his friends presented the worst of the "old boy's network". Andy Burnham, the shadow home secretary, said that if the list was accepted it "will destroy any remaining shred of respect for the honours system".
The controversy comes after Cameron gave his hairdresser an MBE for "services to hairdressing" in the 2014 New Year's honours list.