"I am genuinely and deeply grateful for this honour. It is indeed a privilege to be in the company of two phenomenal and extraordinary human beings and talent, Cate Blanchett and Sir Elton John," the Bollywood actor said.
The 52-year-old received the award for showing an exemplary commitment to uphold human dignity through his non-profitable Meer Foundation.
Meer Foundation provides support to female victims of acid attacks and major burn injuries through medical treatment, legal aid, vocational training, rehabilitation and livelihood support.
Shah Rukh has also been responsible for creating specialised children's hospital wards and has supported childcare centres with free boarding for children undergoing cancer treatment.
"I am grateful to these brave women and children (of Meer Foundation) who I work with for all that they have done for me, to the World Economic Forum, and all of you present here today for recognising the heroism by conferring this award, and this reward upon me," he added.
He also thanked his family for teaching him the importance of consent.
"I want to thank my sister, my wife and my little daughter for bringing me up well and teaching me the value of requesting, sometimes imploring, and sometimes even begging a yes from a woman, instead of forcing it upon her," he concluded.
Shah Rukh on the dais also requested the 'Can You Feel the Love Tonight' singer for a selfie.