This comes in the same year King will be honored with a biopic musical, called "Beautiful: The Carole King Musical." It premieres on Broadway in spring 2013.
During the concert, the Library of Congress will present King the Gershwin Award for Popular Song. She is the first woman to win the prize. Obama has presented the award to all previous winners in his presidency: Stevie Wonder in 2009, Sir Paul McCartney in 2010 and songwriting duo Burt Bacharach and Hal David in 2012.
The concert will include performances from several popular artists, including Billy Joel, Emeli Sande, James Taylor and Gloria Estefan.
King will also perform in the concert, which is an installment of the "In Performance at the White House" series. She is known for penning hits including "You've Got A Friend" and "(You Make Me Feel Like) a Natural Woman."
It will be broadcast May 28 on PBS and streamed live on WhiteHouse.gov.