After accepting the honour in the presence of his brother Shree, mother Kajal, coach Arvind Savur and others, Pankaj said he was "blessed" to have won these 12 world titles so far.
"This year has been a crazy one with four world titles. I feel blessed to have achieved this. I would like to thank KSBA, BSFI, my brother, mother, school (Frank Anthony Public School), college (SBM Jain College), Arvind (Savur) uncle, who has been a tremendous coach," the 29-year-old Pankaj said.
Also on the same occasion, Billiards and Snooker Federation of India (BSFI) honoured Pankaj with Rs 3 lakhs for the same achievements. BSFI Secretary General S Balasubramaniam handed over a cheque of Rs 3 lakhs to Pankaj.
KSBA also honoured R Umadevi and Vidya V Pillai for their achievements at the international level this year. Umadevi finished runner-up at the World Ladies Billiards Championship this year. She received a cash reward of Rs 40,000.
Vidya was a bronze medallist at the Australian Open Women's Snooker Championship in Sydney this year. She received Rs 15,000.
Pankaj's next aim is to impress in front of the home fans in 11 days time when the World Snooker Championship gets under way at Bangalore's Sree Kanteerava Stadium.
Here are the pictures of Pankaj's felicitation on Saturday at the KSBA premises.
Arrival at the airport
Pankaj Advani is given a grand welcome a the Bangalore airport by his mother and brother.
Pankaj Advani is seen listening to KSBA president MC Uthappa (not pictured) during the felicitation function.
Pankaj Advani poses with his World Billiards Championship medals.
Rs 3 lakhs from BSFI
BSFI Secretary General S Balasubramaniam hands over a cheque of Rs 3 lakhs to Pankaj.
Pankaj with Umadevi and Vidya
Pankaj Advani is seen with R Umadevi (left) and Vidya Pillai.