Queen will be named Broadcast Music Inc (BMI) Icons.
The iconic 'We Will Rock You' group will be given the trophy recognising their contribution to songwriting at the organisation's annual UK ceremony in October.
The group consisted of guitarist Brian May, drummer Roger Taylor, bassist John Deacon and vocalist Freddie Mercury until the singer's death in 1991 from complications related to AIDS.
During their career which spanned the 70s to the 90s the band were one of the defining bands of the glam rock era, and one of the most successful with hits such as 'Bohemian Rhapsody', 'Fat Bottomed Girls', 'One Vision' and 'The Show Must Go On'. Unusually for a rock band, all four members were songwriters, and individually wrote hits for the group.
Since Freddie's death, Brian and Roger toured with singer Paul Rogers as Queen and Paul Rogers between 2004 and 2009.
Brian recently admitted he still misses his old bandmate, saying: "I think about Freddie all the time, really. There certainly isn't a day where I don't have some sort of thought about him.
"I have been to extremes where I have found it very painful, and I couldn't talk about him. But I don't feel that anymore. He's part of our lives, still, in a very real way."
The BMI Awards are scheduled to take place on October 4 at London's Dorchester Hotel.