Spielberg is a founder of the institute and Katzenberg's partner in the DreamWorks movie studio.
Craig Ferguson is to serve as host of the Ambassadors for Humanity Gala, which will feature Jennifer Hudson as special musical guest.
The USC Shoah Foundation Institute says it has collected and maintains an archive of nearly 52,000 video testimonies of Holocaust survivors and other witnesses in 32 languages and from 56 countries.
The award it bestows honors individuals who embody the institute's goals of promoting tolerance, cultural understanding and mutual respect through the educational use of the testimonies in its Visual History Archive.
"Jeffrey Katzenberg is an ambassador of many charitable movements, inspiring and leading at the same time," Spielberg said in a statement. "When Jeffrey believes in something, his personal commitment is extraordinary and his time and energy are focused like a laser beam to make sure that funds and awareness are brought to bear immediately. He has been an ardent supporter and friend of the Shoah Foundation since it began, and his determination to make a difference in the world has provided great inspiration to me and to so many others."
Notable deaths of 2014 [PHOTOS]