New Romantic icons Duran Duran will receive the first ever MTV Video Visionary Award.
The trophy will be handed out at this year's MTV Europe Music Awards (EMAs) to be held in Milan, Italy, on Sunday October 25.
The chart-topping 1980s band will be given the honour for their strong visual presence, and for influencing a generation of musicians with some of the best pioneering music videos of all time.
Duran Duran, originally comprising Simon Le Bon, Nick Rhodes, John Taylor, Andy Taylor and Roger Taylor, released a statement about their accolade.
''It is no coincidence that our rise was paralleled by the growth and ultimate world domination of MTV. The birth of music videos as a way to simultaneously bring our music to a global audience revolutionised the business," the band said.
The statement continued: ''We have worked with some of the most talented directors in the world - without whom we would not be honoured here today. We are really proud to be the recipients of this new award. Thank you, MTV.''
Meanwhile, a good deal of anticipation surrounds Justin Bieber's forthcoming performance because he broke down in tears at the MTV Video Music Awards (VMAs) in August.
The Canadian pop star explained why he had been so overwhelmed on Jimmy Fallon's The Tonight Show: "I just wasn't expecting them to support me in the way they did. Last time I was at an awards show, I was booed."
After confirming his appearance at the EMAs, Bieber said: "I'm excited to share this performance and this new material with my fans around the world. The EMAs are always a blast. I'm glad to be back and it's going to be fun".
The star is due to release his new album Purpose on November 13, the same date as One Direction's much-anticipated fifth studio album, Made In The AM.
Singer Ed Sheeran and model Ruby Rose will host the EMAs, which promises an intriguing battle between Taylor Swift, who has nine nominations, and Bieber who has scored six nods.
Here is the full list of nominees for this year's EMAs:
:: Best song
Ellie Goulding, Love Me Like You Do
Major Lazer & DJ Snake featuring Mo, Lean On
Mark Ronson featuring Bruno Mars, Uptown Funk!
Taylor Swift featuring Kendrick Lamar, Bad Blood
Wiz Khalifa featuring Charlie Puth, See You Again
:: Best pop
5 Seconds of Summer
Ariana Grande
Justin Bieber
One Direction
Taylor Swift
:: Best female
Ellie Goulding
Miley Cyrus
Nicki Minaj
Rihanna
Taylor Swift
:: Best male
Ed Sheeran
Jason Derulo
Justin Bieber
Kanye West
Pharrell Williams
:: Best live act
Ed Sheeran
Foo Fighters
Katy Perry
Lady Gaga & Tony Bennett
Taylor Swift
:: Best new act
Echosmith
James Bay
Jess Glynne
Shawn Mendes
Tori Kelly
:: Best video
Kendrick Lamar, Alright
Macklemore & Ryan Lewis, Downtown
Pharrell Williams, Freedom
Sia, Elastic Heart
Taylor Swift featuring Kendrick Lamar, Bad Blood
:: Best rock
AC/DC
Coldplay
Foo Fighters
Muse
Royal Blood
:: Best alternative
Fall Out Boy
Florence + the Machine
Lana Del Rey
Lorde
Twenty One Pilots
:: Best hip hop
Drake
Kanye West
Kendrick Lamar
Nicki Minaj
Wiz Khalifa
:: Best electronic
Avicii
Calvin Harris
David Guetta
Major Lazer
Martin Garrix
:: Best push
Echosmith
James Bay
Jess Glynne
Kwabs
Natalie La Rose
Royal Blood
Shamir
Shawn Mendes
Tori Kelly
Years & Years
Zara Larsson
:: Best collaboration
David Guetta featuring Nicki Minaj, Bebe Rexha & Afrojack, Hey Mama
Justin Bieber, Skrillex, Diplo, Where Are You Now?
Mark Ronson & Bruno Mars, Uptown Funk!
Taylor Swift & Kendrick Lamar, Bad Blood
Wiz Khalifa & Charlie Puth, See You Again
:: Biggest fans
5 Seconds Of Summer
Justin Bieber
Katy Perry
One Direction
Taylor Swift
:: Best look
Justin Bieber
Macklemore & Ryan Lewis
Nicki Minaj
Rita Ora
Taylor Swift
:: Worldwide act: North America
Taylor Swift
Justin Bieber
:: Best world stage
Afrojack Derry-Londonderry, Northern Ireland UK 2014
Alicia Keys O2 Academy Glasgow, Scotland UK 2014
B.O.B. Kuala Lumpur, Malaysia 2014
Biffy Clyro O2 Academy Glasgow, Scotland UK 2014
Charli XCX Circus, Helsinki, Finland 2014
Dizzee Rascal Isle of MTV, Malta 2014
Ed Sheeran V Festival, Hylands Park, UK 2014
Iggy Azalea Wireless Festival, London, UK 2014
Jason Derulo Isle of MTV, Malta 2015
Jessie Ware Cork, Ireland 2014
Kaiser Chiefs MTV Crashes Plymouth, UK 2014
Slash O2 Academy Glasgow, Scotland UK 2014
Tomorrowland Belgium & Brazil 2015
YG MTV Evolution, Manila, Philippines 2015
:: The 2015 MTV EMAs will take place at the Mediolanum Forum in Milan on Sunday October 25.