MTV plans to honor the actor with the award in recognition of his accomplishments in the entertainment industry.
The cast of Entourage will present the award to Wahlberg at the ceremony. The actor served as executive producer for the show, and the series was loosely based on his life. The awards ceremony will be the first time cast members Adrian Grenier, Kevin Connolly, Kevin Dillon and Jerry Ferrara have reunited.
President of MTV Stephen Friedman said of the honor, "Mark Wahlberg is the definition of a modern day Renaissance Man... in front of the camera and behind -- he's done it all and he's always memorable. Mark has captivated the MTV audience for over twenty years, and for this rare feat, we're proud to recognize him with this year's Generation Award."
Wahlberg is set to star in the upcoming Transformers: Age of Extinction and Ted 2, and is rumored to appear in the 2015 Entourage movie. He also has several projects as a producer, including his brother Paul's TV show Wahlburgers.
Conan O'Brien will host the 2014 MTV Movie Awards. The ceremony airs on Sunday, April 13 at 9 p.m. EST.