The university awarded Davis the "chancellor's medal" in recognition of his instrumental role in bringing the 10th University of California campus to Merced.
The award is the university's highest honor.
UC Merced Chancellor Juan Sánchez Muñoz said the former governor played a pivotal role in "advancing the vision of a research university in the Central Valley at a critical moment in the campus's development."
In 1999, under the direction of then-Gov. Davis, a state task force was created to coordinate construction and environmental efforts to build the campus.
UC Merced broke ground in 2002 and officially opened to students on Sept. 6, 2005.