Other honorees include Maria Callas, Ornette Coleman, Bob Wills and Booker T. & The MG's, The Recording Academy announced Tuesday. The awards are decided by a vote of the group's national board of trustees.
"This year's group of accomplished honorees are as diverse as they are influential as creators of the most renowned and prominent recordings in the world," Recording Academy President Neil Portnow said in a statement.
"Their contributions exemplify the highest artistic and technical standards that have positively affected the music industry and music fans."
The statuettes will be handed out during a ceremony before the main Grammys are handed out at the Staples Center in Los Angeles on Feb. 11. The 49th annual awards will air live on CBS, a division of CBS Corp.
Stax Records co-founder Estelle Axton, Grammy-winning composer/lyricist Stephen Sondheim and recording engineer Cosimo Matassa will receive the Trustees Award, which recognizes outstanding contributions to the industry in a non-performing category.