Music
WENN
The former Genesis singer will share the 2009 award with composer Jose Antonio Abreu, with each man receiving one million kroner (£84,475).
The committee said: "[Gabriel has] not only had a significant influence on the development of popular music - he has redefined the very concept."
It also praised his "groundbreaking, outward-looking and boundary-busting artistry".
Founded by former Abba manager Stig Anderson, the Polar Music Prize is split every year between a pop and classical composer.
Gabriel and Abreu will be presented with the gong by King Carl XVI Gustaf at the Stockholm Concert Hall on August 31.
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