However, Morgan has said he just doesn't "get" it after everything that Harry and Meghan have said about the Royal Family in recent months.
Addressing it on his Uncensored show, he said: "Because I was sure that they kept telling the world how ghastly the monarchy is - it's a prison camp, all the royals want to get away from it but they can't because they are trapped in the world of titles and privilege - and now they want to give their kids the titles of Prince and Princess?"
"Even though they don't live anywhere near the Royal Family," added the presenter, referring to the fact that Harry and Meghan have left the UK and are now based in California with their children.
He said that in his opinion it was "rank hypocrisy yet again from these two".
The TV star has been outspoken about Harry and Meghan on many occasions.
He has slammed them for criticising the Royal Family in their bombshell Netflix show and in the past he has said that they should be stripped of their own royal titles.
And earlier this month he praised King Charles for "smartly" evicting the couple from Frogmore Cottage.
The pair were given the cottage in the grounds of Windsor Castle by the late Queen.
But it was reported that they had been asked to clear out of the property and that it had been offered to the Duke of York.
Watch: Piers Morgan: Prince Harry wants to 'milk' the coronation for his next documentary