Jennifer Lopez will receive the Icon Award at the 2014 Billboard Music Awards.

The 'On The Floor' hitmaker is set to become the first woman to be honoured for her lifetime achievement to music at the ceremony held at the MGM Grand Garden Arena in Las Vegas on May 18.

The star is the only the fourth recipient of the Icon Award ever, following on from Neil Diamond, Stevie Wonder and Prince.

Larry Klein, producer of the Billboard Music Awards, commented: ''Jennifer Lopez is one of the most iconic performers of her generation.

''We are thrilled to honour her historic career with the 2014 Icon Award and will be on the edge of our seats like everyone else when she takes the stage.''

The sexy songstress is also going to take to the stage during the ceremony to debut her FIFA World Cup anthem 'We Are One (Ole Ola)' with Pitbull, as well as performing her new single 'First Love'.

The 'American Idol' judge took to Twitter over the weekend to reveal her upcoming eight studio album will be called 'A.K.A.', as well as sharing the artwork for the new record, which shows her clad in a bondage-style red leather dress.