Shakira is the 2011 Latin Recording Academy person of the year.
The Colombian singer and seven-time Latin Grammy winner will be honoured on November 9 at the 12th annual Tribute Gala in Las Vegas for her artistic and philanthropic contributions.
Friends and notable artists will salute her with their own versions of her songs during the gala.
Shakira is up for three awards, including album of the year, a day later at the Latin Grammys.
The show will be broadcast live on the Univision Network.
The 34-year-old becomes the youngest person to receive the tribute. Previous recipients include Placido Domingo, Carlos Santana, Gloria Estefan, Julio Iglesias and Ricky Martin.
Shakira called the award "truly an honour".