Muse are currently touring the US ahead of dates in Europe this summer
Rock band Muse will receive the Silver Clef award in July - a year after they turned down the accolade in 2009.
The stadium rockers will accept the prize less than a week after headlining at this year's Glastonbury festival.
The Devon group said they were proud to "join the ranks of such artists as Robert Plant, David Bowie, Pink Floyd, Elton John and The Who".
TV star Sharon Osbourne, wife of rocker Ozzy, will host this year's ceremony at London's Hilton hotel.
Take That, Oasis and Coldplay are recent recipients of the Silver Clef, presented each year on behalf of music therapy charity Nordoff Robbins.
Muse - singer Matt Bellamy, bassist Christopher Wolstenholme and drummer Dominic Howard - said they were "very proud to be recognised [by] an exceptional charity that has a positive impact on so many people's lives".
Former X Factor judge Sharon Osbourne echoed their sentiments, saying she was looking forward to "what's looking like a fabulous day."