The Vito Russo Award is presented to an openly lesbian, gay, bisexual or transgender media professional who has made "a significant difference in promoting equality".
The Award is named for Vito Russo, a founder of the Gay & Lesbian Alliance Against Defamation.
Previous Vito Russo honourees include Ricky Martin, Rosie O'Donnell, Alan Cumming, Cynthia Nixon, Nathan Lane, Cherry Jones, Elton John and Tom Ford.
Glaad president Herndon Graddick says, "Madonna has been a passionate spokesperson and longtime supporter of gay rights. She has embraced Lgbt people around the world on many occasions. From speaking out against bullying to raising support for marriage equality, Madonna has always been one of our community's strongest allies. We are honoured to have her stand with Glaad and Anderson Cooper."