Shakira is up for three Latin Grammy Awards, including Album of the Year.
She is to be honored for her artistic and philanthropic contributions at a tribute dinner and concert Nov. 9 at the Mandalay Bay Convention Center as part of this year's Latin Grammy week celebration.
Songs from Shakira's catalog will be performed by her fellow artists and friends. A portion of the net proceeds from the gala will benefit Shakira's Pies Descalzos Foundation, as well as the academy's Latin Grammy in the Schools educational efforts, organizers of the event said.
The celebration will precede the 12th annual Latin Grammy Awards to be held at the Mandalay Bay Events Center. The prize presentation will be broadcast live on the Univision Network Nov. 10.
Gabriel Abaroa Jr., the academy's president and chief executive officer, said he was "elated" Shakira had been picked for the award.
"We are honored to pay homage to this dynamic, socially conscious woman whose illustrious career has touched so many people around the world, both musically and personally," Abaroa said in a statement Monday.
Shakira, 34, said she considered it "truly an honor to be in the company of some of the greatest artists and legends of Latin Music."