The song -- written by Barry Mann, Phil Spector and Cynthia Weil -- will receive the organization's Towering Song award during the June 9 ceremonies when Steve Cropper, John Fogerty, Isaac Hayes, David Porter, Bill Withers and Richard and Robert Sherman are inducted into the Songwriters Hall of Fame.
Previous winners of the Towering Song Award include "Let Me Call You Sweetheart," "You're a Grand Old Flag," "What The World Needs Now Is Love" and "Fly Me to the Moon."
According to the performing rights organization BMI, "You've Lost that Lovin' Feelin'" is the most-played song in the organization's history, with more than 10 million airplays to date on radio and TV.
Medley partner in The Righteous Brothers, Bobby Hatfield, died at 63 in 2003 from a cocaine-induced heart attack.
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