Iconic musician Bob Dylan is set to add another accolade to his long list of awards as he has been named the 2015 MusiCares Person of the Year, which he will be honoured with ahead of next year's annual Grammy Awards.

Bob Dylan
Dylan has been named the 2015 MusicCares Person of the Year

The Recording Academy and MusiCares Foundation made the announcement on Tuesday (Sept 23rd), and also revealed he will receive the prestigious prize during MusiCares' 25th annual gala dinner held in Los Angeles on Feb. 6, two days before music's biggest award ceremony.

"In celebrating the 25th anniversary of our MusiCares Person of the Year tribute, it is most fitting that we are honoring Bob Dylan, whose body of creative work has contributed to America's culture, as well as that of the entire world, in genuinely deep and lasting ways," said Neil Portnow, president and CEO of the MusiCares Foundation and the Recording Academy.

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"Bob Dylan's songwriting ability is unmatched, and it will be an extraordinary evening to hear his work showcased by such a remarkable group of artists," added MusiCares Foundation Board chair Bill Silva.

As well as the dinner, a tribute concert will also be held during the evening for Dylan, which will include performances from Beck; the Black Keys; Crosby, Stills & Nash; Norah Jones; Tom Jones; Los Lobos; John Mellencamp; Willie Nelson; Bonnie Raitt; Eddie Vedder; Jack White; Neil Young; and singer-songwriter John Doe.

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Furthermore, an auction is scheduled to take place that will all proceeds to the MusiCares Foundation, an organization that aims to aid impoverished members of the music community.