The founder of Glastonbury Festival will be given the prize at the ceremony in Groningen, the Netherlands on January 11.
The prize is dedicated to "an individual whose personal vision and energy has propelled the entire festival industry forward in a dynamic, creative and positive way".
Eavis said of the news: "After 41 years, to win something of this magnitude is something to be incredibly proud of. To still be doing this after that amount of time is no mean feat."
Festival Awards managing director James Drury commented: "Since founding one of the most famous and long-lasting festivals in the world, Michael has dedicated his life to Glastonbury and the millions of festival-goers which have attended the event over its 41-year history.
"Glastonbury is the grandfather of the incredible festival market which Europe enjoys, and Michael is cited as an inspiration by almost every festival organiser I speak to across the world. This is why he is so deserving of this honour."
Eavis launched Glastonbury festival in 1970, inspired by the Isle of Wight Festival. Since it made its first profit 11 years ago, he has donated the money to various charities around the world.
Tickets for the award show are on sale now.
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Watch Beyoncé perform 'Singles Ladies' at this year's Glastonbury below: