Elton John and David Furnish will receive a joint lifetime achievement award in recognition of their work in music and charity.
They will be honoured with the artist and manager partnership prize at the Artist & Manager Awards, the Featured Artists Coalition (FAC) and Music Managers Forum (MMF) said.
The honour will celebrate Elton and Furnish's "remarkable shared successes and their incredible ongoing impact on an upcoming generation of artists and audiences".
The couple, who married in 2014 and have two children, have been praised for their decades of charity work as well as Elton’s illustrious music career.
Elton founded the Elton John AIDS Foundation - which has raised hundreds of millions of pounds - in 1992.
Awards organisers also cited the pop superstar’s continued career success and his championing of young upcoming artists.
And Elton, 74, and filmmaker Furnish, 58, were praised for their role calling for greater support for touring musicians post-Brexit.
Paul Craig, chair of the Music Managers Forum, said: "On behalf of the MMF, I also want to take this opportunity to pay tribute to their invaluable advocacy work, and particularly on the issue of post-Brexit touring which will impact all artists and where David and Elton have both led from the front.
"For all these reasons, the MMF and FAC are beyond excited that both will be joining us in person to pick up their awards."
The Artist & Manager Awards are set to take place on November 18.