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In addition to performing, McCartney and fellow former member of The Beatles Ringo Starr will accept the 2014 Recording Academy Lifetime Achievement Award.
Rap duo Macklemore and Ryan Lewis, singer/actress Ariana Grande and British musician Ed Sheeran are among new stars who shone the brightest in 2013.
The musicians will perform at the annual bash in New York's Times Square, joining the likes of Robin Thicke, Fall Out Boy and Miley Cyrus.
The rap duo opens the live concert with the upbeat 'Thrift Shop' and the Californian singer hopes to inspire fans with the empowering 'Roar'.
Globally, the rap duo's debut LP 'The Heist' is named the world's most streamed album while their hit single 'Can't Hold Us' becomes the most streamed track.
Macklemore and his partner, Ryan Lewis, win YouTube Breakthrough award while Eminem is named YouTube's Artist of the Year.
The rap duo leads the field with 4 nods, including the YouTube Breakthrough and Phenomenon awards.
The 'Suit and Tie' chart-topper and the 'Thrift Shop' duo bag five nods apiece to lead the November 10 awards.
The funky pair debut their hip-hop star-studded clip for the track off their successful album 'The Heist'.
The 'Thrift Shop' hitmaker reveals the rumors have been so widespread that 'Is Macklemore Gay?' will immediately pop up on Google search when people type 'Is.'
Drake does singing and rapping, Bruno Mars brings in his 'Gorilla', and duo Mackemore and Ryan Lewis join forces with Mary Lambert and Jennifer Hudson.
The former Disney darling wins Best Pop Video for 'Come and Get It', while the 'Can't Hold Us' rap duo snatches their first Moonman with Best Hip Hop Video.
The rap duo performs three tracks from their album 'The Heist' for the show's Summer Concert Series.
The 'Suit and Tie' chart-topper and the 'Thrift Shop' rap duo bag six nominations each to lead the race at the upcoming awards show.
Nielsen SoundScan reports that the 'Mirrors' singer's latest album, '20/20 Experience', and the rapper's hit single, 'Thrift Shop', have sold more than 2 million and 5.6 million, respectively.