He returned to his home town of Middlesbrough for the ceremony, in which he was made an honorary doctor in professional achievement.
Mr Mortimer paid tribute to the area for its "distinctive, dry, sense of humour".
Many of the characters created in his double act with Vic Reeves were based on locals, he revealed.
He said:  "I was here until I was 25, and the people that you meet then remain with you a lot longer than people you meet when you are older.
"It always makes me sad when I come home, in that nice way, as I have so many fond memories of the place."
When asked if he thought Middlesbrough FC would win promotion back to the Premier League, he said he would not curse them with a prediction.
As for his doctorate, he said: "I will frame it and put it above my son's bed to prove to him that I did amount to something."
TV comedian Bob Mortimer has been awarded an honorary degree from Teesside University.