The Hips Don’t Lie singer is to be honoured for her philanthropic contributions as well as her successful recording career.
Recording Academy president Gabriel Abaroa Jr said the organisation was honoured to pay tribute to such a “dynamic, socially conscious woman”.
The tribute gala will be held a day before the annual awards show.
Shakira, is also up for three Grammys, including album of the year.
In a statement, the singer said receiving the award was “truly an honour”.
Shakira rose to fame in the early 1990s, but it was not until the release of her 2002 single Whenever, Wherever that she achieved worldwide success.
Her 2009 album She Wolf has sold more than two million copies worldwide and she recorded Fifa’s official song for the 2010 World Cup.
Her philanthropic efforts began at the age of 18, when she founded a charity aimed at supporting the academic needs of underprivileged children. She is also a global ambassador for Unicef.