The pop music icon is scheduled to accept the prestigious award, which recognizes the highest grossing concert touring act of 2012.
The prize is a result of the success of Madonna's global "MDNA" concert tour, which has grossed more than $305 million from 88 sold-out shows before audiences of 2.2 million.
The Billboard Awards ceremony is to take place at the MGM Grand Garden Arena May 19. The show will air on ABC.
Celebrity Breakups and divorces of 2014 [PHOTOS]