Mr Clear, who graduated from the university with a degree in mechanical engineering in 1987, was to be presented with the award in recognition of his "outstanding success in applying engineering science in the most demanding and competitive of environments", and for acting as a role model to young engineers.
After he graduated, Mr Clear worked for companies such as Lotus, before joining the Williams Formula One racing team in 1994.
He is now the senior race engineer to Rubens Barrichello at Honda.
The presentation was to be made at the first of Heriot-Watt's November graduation ceremonies this morning.
Dr David Milne, the former chief executive of Wolfson Microelectronics, was also to be honoured, with the presentation of a Doctor of Science, in recognition of his academic career.