The 93-year-old cine icon was bestowed with the honour at his residence here just two days after his birthday.
His close friend Udaya Tara Nayar and compiler of the actor's autobiography, "The Substance and the Shadow", told IANS that the actor was felicitated on Sunday afternoon.
He was presented the Padma Vibhushan medallion, a certificate and a shawl by Singh.
Present on the occasion were his actress-wife Saira Bano, Maharashtra Governor C.V. Rao and Chief Minister Devendra Fadnavis.
Born in Peshawar now in Pakistan, Dilip Kumar, whose real name is Yusuf Khan, entered the Indian film industry in the black-and-white era and became a name to reckon with in the 1950s and 1960s.
He is credited for films like "Aan", "Daag", "Madhumati", "Paigham", "Leader" and "Ram Aur Shyam".
His cinematic gems range from the tragic story of "Devdas", the historical love saga "Mughal-E-Azam" to the dacoit drama "Ganga Jamuna".
After working for about six decades, he stepped away from the arclights in 1998. His last movie was "Qila".
Minister of State for Information and Broadcasting Rajyavardhan Rathore congratulated the actor.
He tweeted: "Congrats to the screen legend for being conferred Padma Vibhushan. His touching cinematic performances are inspiration for many."
In April, Dilip Kumar could not attend the investiture ceremony at Rashtrapati Bhavan due to poor health.
