The popular full-back captained the side at Coventry City and Manchester City in Jamie Redknapp's absence.
The Irish star could now don the armband again for the first time at the Lane for Saturday's Premiership clash against Everton.
"It means a lot," said a relaxed Steve at Spurs Lodge. "It's the first time it's happened to me, so it's great.
"Even though it's temporary, basically until Jamie gets back, I'm enjoying it.
"It's an honour. I've been at the club for 11 years, a long time and to become captain is special.
"It's great leading the lads out and this is a great bunch of lads but as I said, it's only until Jamie is fit again.
"Having said that, we've more things to worry about at the moment, like getting points on the board."
Stephen Carr says it's been a great honour to lead the side out after 11 years at the club.