The 63-year-old is a true Lions legend, having toured twice as a player and five times as a coach.
The former Scotland centre was part of the historic series winning side of 1974 and also toured New Zealand three years later.
He has since taken on the role of the head coach in 1989, 1993, 1997 and 2009 and was involved as an assistant in 2005.
Labeled 'The Lion King' or 'Mr Lions', McGeechan remains one of the most popular figures in the game and his possible recognition is sure to warmly received by the rugby world.
McGeechan already has an OBE to his name having been honoured after coaching Scotland to Grand Slam glory in 19 years ago.
If he does become Sir Ian, the ex-Wasps and Northampton boss will join fellow Lions coach Clive Woodward in being knighted, as well as Manchester United football manager Alex Ferguson.
"His enthusiasm, his desire, his intimate knowledge - there are a number of parallels with Alex Ferguson," Lions chairman Andy Irvine told the Daily Mirror.
"Ferguson's players love him, Geech's players love him. And both men's records speak for themselves."