The Hole rocker will follow in the footsteps of previous recipient Shirley Manson in accepting the accolade at the O2 Academy Brixton in London on 12 February and admitted the honour "means a lot" to her.
She said in a statement to NME: "Thank you so much for this award, it means a lot.
"You were there at the beginning and whilst we've sparred like siblings over the years I've always had a huge respect for what you do, and been very grateful for the support. It's going to be a great night."
Organisers have also confirmed Katherine Ryan and Julie Adenuga will host this year's show and the Beats 1 presenter is thrilled to be working with the comic.
Julie said: "Co-hosting the NME Awards with Katherine is like three dreams coming true at once!
"I've always had a list of award ceremonies that I'd love to host and now I get to tick this one off. I knew I had to work with Katherine after watching her Live at the Apollo and getting stomach cramps from laughing so hard, and finally, stepping into my tenth year championing UK music in a room with all of the nominees feels like the perfect way to celebrate how far all of this has come."
However, Katherine has ulterior motives for taking the job.
She quipped: "I hope to get pregnant by a rock star."
AJ Tracey has been added to the performers list alongside Yungblud, Beabadoobee and The 1975.
It was announced last week that the Godlike Genius Award will be presented to Glastonbury organiser Emily Eavis this year.
