The ceremony will take place on Feb. 8, with Bono and Dr. Dre serving as honorary event co-chairs.
Interscope Records co-founder and chairman Jimmy Iovine will be recognized by the Recording Academy for his commitment to excellence and ongoing support for the art and craft of recorded music this year.
The Academy announced on Thursday that its Producers & Engineers wing would fete the legendary producer during a Grammy week ceremony on Feb. 8 at the Village in Los Angeles. Bono and Dr. Dre will serve as honorary co-chairs of the celebration.
"The work of the Producers & Engineers Wing is essential to ensure that the importance of sound quality and the integrity of recorded music continue to be acknowledge and preserved in our evolving landscape," said Neil Portnow, President and CEO of The Recording Academy. "This year we pay tribute to an industry leader, Jimmy Iovine, who has made an indelible impact as a recording engineer, producer, founder of Interscope Records, and now, entrepreneur focused on audio quality."
Iovine's resume includes serving as a recording engineer for artists such as John Lennon and Bruce Springsteen in the '70s, before transitionaing into a producer for Dire Straits, Stevie Nicks, Tom Petty & The Heartbreakers, Patti Smith, and U2. After founding Interscope records in 1990 withTed Field, he now serves as chairman of Interscope Geffen A&M Records for the Universal Music Group.
On his label's slate are the Grammy Award-winning artists Mary J. Blige, Dr. Dre, Eminem, Nelly Furtado, the Black Eyeds Peas, Lady Gaga and No Doubt.