Woodruff is the veteran correspondent and anchor for ABC News who returned to work 13 months after he was seriously wounded by a roadside bomb while working in Iraq.
The press club is to present him with the Daniel Pearl Award for Courage and Integrity in Journalism at the 50th annual Southern California Journalism Awards banquet at the Millennium Biltmore Hotel in Los Angeles June 21.
The award is named for the Wall Street Journal reporter slain while working in Pakistan.
"For us, as well as so many Americans, Bob has become an iconic role model, not only of journalistic courage and integrity, but also of the capacity of the human spirit to turn injury into challenge, challenge into cause, and cause into a movement that benefits society," Judea and Ruth Pearl, Daniel Pearl's parents, said in a statement.
The Pearls, whose Daniel Pearl Foundation jointly presents the award with the press club, said they are "deeply honored" by Woodruff's acceptance.
"We couldn't find a more deserving recipient of this award than Bob Woodruff," added Chris Woodyard, the press club's president.