The awards presentation is to aired live on MTV Sunday from the Gibson Amphitheatre in Universal City, Calif.
Sandler's fellow former "Saturday Night Live" alum Mike Myers is scheduled to preside over the festivities.
The Generation Award is being bestowed upon Sandler because he is an actor who "has captured the attention of the MTV audience throughout their career," MTV said.
Sandler, who started out on MTV's "Remote Control," has gone on to star in dozens of films including "Billy Madison," "Happy Gilmore," "The Wedding Singer," "Big Daddy," "Click" and "I Now Pronounce You Chuck and Larry."
"A 30-something waterboy, a broken-hearted '80s wedding singer and a rejected hockey player turned pro golfer ... now that's an impressive resume," Van Toffler, president of MTV Networks Music, Logo and Films Group, said in a statement. "On Sunday our audience will present Adam with the MTV Generation Award for all the years he has captured, entertained and made us laugh our heads off."