The Mary Poppins and Sound of Music star will receive the award, marking her contribution to music, alongside country singer Dolly Parton and punk band The Ramones.
Andrews, who won a Grammy for 'Best Recording For Children' in 1964 for her role in Mary Poppins, will be given a special presentation in Los Angeles on February 12, 2011, as well as an additional acknowledgement during the main Grammy Awards on February 13.
Neil Portnow, president of the Grammy governing body The Recording Academy, said: "It is a great honour to recognise and celebrate such a distinguished and dynamic group of honourees who have been the creators of such timeless art.
"These influential performers and brilliant innovators have been of great inspiration to our culture and industry. Their legendary work has left a lasting impression and will continue to influence generations to come."