Taking place in San Francisco on March 27, the 13th annual GDCAs will be hosted by Double Fine Productions CEO Tim Schafer.
The BioWare Doctors, who met at medical school, will be honoured for their contributions to the art and science of video games.
Previous credits include Baldur's Gate, Neverwinter Nights, Knights of the Old Republic, Dragon Age, Mass Effect and Star Wars: The Old Republic, the latter of which has won more than 115 awards since releasing in 2011.
"The BioWare Doctors are truly a unique breed. Not only have they created some of the most emotionally-engaging and beloved games ever made, they are two of the most passionate, engaging, just all-around nice guys anyone could be fortunate enough to meet," said GDC manager Meggan Scavio.
"Anyone, be they a long time colleague or a fan who's met them only once at an event like GDC can tell you they treat everyone like a friend, and I am so pleased we can show them our deep appreciation this year with this award.
"There's no denying the deep footprint Ray and Greg have made, and how much their dedication and leadership will be missed in our industry. We're proud to honour them with the Lifetime Achievement Award as they parlay into their next careers."
The BioWare Doctors have since retired from the video game industry, with Muzyka setting up a technology investment company called Threshold Impact, while Zeschuk has been working on a documentary series about craft breweries called The Beer Diaries.
The news comes on the same day the BAFTA 2013 Video Game Awards nominees were announced.
Thatgamecompany's Journey is up for eight awards, including 'Best Game', alongside TellTale's The Walking Dead and Far Cry 3.
>Read Digital Spy's Mass Effect 3: Special Edition review
Watch a trailer for BioWare's Mass Effect 3 below: