Pauley will be given the award Nov. 12 by Arizona State University, The Arizona Republic reported Monday.
The veteran newswoman anchored NBC's "Today Show" from 1976-1990, as well as anchoring the network's weekend news and other news programs.
"She has been one of the leading voices in broadcast journalism for a long time," Cronkite School Dean Christopher Callahan said. "I can tell you that from a journalism school perspective, she's been a great role model for a lot of young women who were thinking about going into the field."
Cronkite says he has long been a "great admirer" of hers. "Her standard of excellence as a news anchor and her in-depth interviews have earned her the respect of colleagues with whom she's worked -- and those of us who wish we had," he said in a statement.