Publisher Gail Rebuck is one of 22 new working peers announced by Downing Street today.
Dame Gail, the chairman of Penguin Random House, was nominated by Labour leader Ed Miliband.
He said she would be an asset to the House of Lords.
“Gail Rebuck has made a huge contribution to British business. As one of the founders of World Book Day she has also helped millions of young people experience the joy of reading,” he said.
She is the widow of former Labour peer Philip Gould, who died in 2011.
Other new peers include Karren Brady, vice chairman of West Ham United football club and a member of the board on The Apprentice reality TV show, and former Marks & Spencer boss Sir Stuart Rose.
Of the 22, 12 are Tory peers, three are Labour, six Liberal Democrat and one nominated by the Democratic Unionist Party.