"We are proud to present Rihanna with the CDFA Fashion Icon Award for her impact on the industry as fashion's most exciting ambassador in recent memory," CDFA CEO Steven Kolb writes on the council's website.
The award recognizes the singer's contributions as a fashion designer and icon, as well as her partnership with the MAC cosmetics Viva Glam campaign, which raises funds for AIDS research.
The Fashion Icon Award is given "to an individual whose style has made a significant impact on popular culture on an international stage," according to the CFDA website. Past winners include Lady Gaga, Kate Moss, and Nicole Kidman.
The 2014 CFDA fashion awards ceremony will take place on June 2 at Lincoln Center in New York.