The legendary Northern Irish musician will receive the recognition at the Jazz FM Awards 2026 next month.
The ceremony in London will bring together leading artists from across the worlds of jazz, soul and blues to celebrate the genre's heritage and its continuing evolution, organisers said.
Previous recipients of the lifetime achievement award include Herbie Hancock, Quincy Jones, Tony Bennett and Ahmad Jamal.
Widely regarded as one of the most influential songwriters of his generation, Morrison, 80, has released more than 40 studio albums across more than six decades.
He has won multiple Grammy awards and been inducted into the Rock And Roll Hall Of Fame, while he received a knighthood for services to music in Northern Ireland in 2016.
"Jazz and blues have always been at the heart of the music I love and the music I make," he said.
"I've been fortunate to spend my life doing what I believe in, and it's an honour to receive this recognition from Jazz FM."
Other acts nominated at the awards include Raye for soul act of the year and Ezra Collective, who are up for The Innovation Award.
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