The 'Common People' band - who reformed last year for a series of shows including Glastonbury and the Leeds and Reading festivals - will receive the evening's top honour at the music magazine's annual ceremony on February 29.
Pulp, comprised of Jarvis Cocker, Russell Senior, Candida Doyle, Mark Webber, Steve Mackey and Nick Banks, have also been confirmed to perform at the awards bash.
NME editor Krissi Murison said: ''Pulp are one of the wittiest, cleverest and most brilliant bands the UK has ever produced.''
PJ Harvey picked up the gong last year with The Specials and Elbow among previous winners.
Meanwhile, Noel Gallagher is to receive the Godlike Genius prize which will pay tribute to his three-decade spanning career which has seen him achieve global success with Oasis and launch his successful solo project Noel Gallagher's High Flying Birds.
Speaking about the honour, 'Don't Look Back In Anger' hitmaker Noel previously said: ''I would like to thank NME for bestowing upon me such a great accolade. I have dreamt of this moment since I was 43 years old. I accept that I am now a genius, just like God.''