Per onorarne il coraggio il 24 settembre 1945 gli fu assegnata la Medal of Honor,[N 2] la più alta decorazione al valor militare statunitense. La salma venne successivamente traslata presso lo Houston National Cemetery, di Houston, in Texas.
«He piloted a fighter-bomber aircraft in a series of low-level strafing missions, destroying 14 grounded enemy aircraft and leading attacks which wrecked 10 others during a critical period of the Allied drive in northern Italy. On the morning of 24 April, he volunteered to lead 2 other aircraft against the strongly defended enemy airdrome at Ghedi. Ordering his fellow pilots to remain aloft, he skimmed the ground through a deadly curtain of antiaircraft fire to reconnoiter the field, locating 8 German aircraft hidden beneath heavy camouflage. He rejoined his flight, briefed them by radio, and then led them with consummate skill through the hail of enemy fire in a low-level attack, destroying 5 aircraft, while his flight accounted for 2 others. Returning to his base, he volunteered to lead 3 other aircraft in reconnaissance of Bergamo airfield, an enemy base near Ghedi and 1 known to be equally well defended. Again ordering his flight to remain out of range of antiaircraft fire, 1st Lt. Knight flew through an exceptionally intense barrage, which heavily damaged his Thunderbolt, to observe the field at minimum altitude. He discovered a squadron of enemy aircraft under heavy camouflage and led his flight to the assault. Returning alone after this strafing, he made 10 deliberate passes against the field despite being hit by antiaircraft fire twice more, destroying 6 fully loaded enemy twin-engine aircraft and 2 fighters. His skillfully led attack enabled his flight to destroy 4 other twin-engine aircraft and a fighter plane. He then returned to his base in his seriously damaged plane. Early the next morning, when he again attacked Bergamo, he sighted an enemy plane on the runway. Again he led 3 other American pilots in a blistering low-level sweep through vicious antiaircraft fire that damaged his plane so severely that it was virtually nonflyable. Three of the few remaining enemy twin-engine aircraft at that base were destroyed. Realizing the critical need for aircraft in his unit, he declined to parachute to safety over friendly territory and unhesitatingly attempted to return his shattered plane to his home field. With great skill and strength, he flew homeward until caught by treacherous air conditions in the Appennines Mountains, where he crashed and was killed. The gallant action of 1st Lt. Knight eliminated the German aircraft which were poised to wreak havoc on Allied forces pressing to establish the first firm bridgehead across the Po River; his fearless daring and voluntary self-sacrifice averted possible heavy casualties among ground forces and the resultant slowing on the German drive culminated in the collapse of enemy resistance in Italy.»