The co-founder of lingerie brand Agent Provocateur yesterday rejected his MBE because he finds Tony Blair "morally corrupt".
Joseph Corre was awarded the title for his services to the fashion industry in the Queen's Birthday Honours list.
But he knocked back the MBE yesterday, saying he could not accept the Prime Minister as "someone capable of giving an honour".
Mr Corre - the son of fashion designer Dame Vivienne Westwood - said he had initially been "flattered" to have his Agent Provocateur work recognised by the establishment.
"However after some serious reflection I have decided that I cannot accept it," Mr Corre, 39, said in a statement.
"I have been chosen by an organisation headed by a Prime Minister who I find morally corrupt. Who has been involved in organised lying, to the point where thousands of people including children have suffered death, detention and torture in Afghanistan and Iraq."
Mr Corre's wife and Agent Provocateur co-founder Serena Rees is "delighted" with her own MBE and will not be rejecting it, a spokeswoman for the chain said.
The couple opened their first store in Soho in London in December 1994. There are now 30 shops worldwide.
"To accept this MBE as an honour would mean to me that I would have to accept the Prime Minister as someone capable of giving an honour ie an honourable man, which I cannot find it in my heart to do," Mr Corre's statement added.
"This in no way reflects on my opinion of the Queen whom I respect and would be honoured to have as a customer."
Mr Corre said the Agent Provocateur team should all "stand proud for what they have accomplished" and "don't need a medal to prove it".
Joseph Corre and Serena Rees set out to create a lingerie brand devoid of "British prudery".
Their stores, website and catalogue business now sell everything from classy underwear to whips.
A statement released on behalf of Serena Rees, 38, said: "It is a great achievement for her personally and indeed for the company that her contribution to fashion has been acknowledged in this way."
A spokeswoman for the Cabinet Office which compiled the Honours list said Mr Corre had earlier written to 10 Downing Street confirming he would accept an MBE.