Chuck Berry and Peter Sellars will receive the 2014 Polar Music Prize.
Rock 'n' roll legend Berry, 87, and American opera and theatre director Sellars, 56, will both be presented with the prestigious accolade by King Carl XVI of Sweden at a gala ceremony in Stockholm, Sweden on August 26.
The Polar Music Prize was founded in 1989 by ABBA's lyricist and manager Stig ''Stikkan'' Anderson to ''break down musical boundaries by bringing together people from all the different worlds of music'', and this year's ceremony - which will take place in Stockholm's Concert Hall - will mark the award's 25th anniversary.
This year's laureates epitomise Anderson's aim for the award - which he named after his own record label - as Berry is universally acknowledged as one of the pioneers of rock 'n' roll music due to a number of classic songs including 'Maybellene' and 'Roll Over Beethoven'.
Meanwhile, Sellars is an acclaimed American opera, theatre and festival director seen as a visionary artist because of his innovative re-interpretations of classic works.
Past winners of the Polar Music Prize include Sir Paul McCartney, who was the first artist to ever receive the accolade, Sir Elton John, Bob Dylan, Patti Smith, Pink Floyd, Bruce Springsteen, Ray Charles and Led Zeppelin.