I makes sense both ways, but being "honoured to earn" something sounds weird when you can also just say "honoured to receive something". I'd say use receive;)

If someone offered you a job in a prestigious organisation or with a prestigious professional, you could say: "I'd be honoured to work there / to work with him/her." Even though you earn money by working, I agree with Joshua that it would be strange to say "honoured to earn".