AceShowbiz -

The Recording Academy, which organizes Grammy Awards, has announced that Carole King has been named MusiCares Person of the Year for 2014. The 71-year-old singer will receive the honor at the Recording Academy's charity fundraiser on January 24, 2014, two days before Grammy Awards.

Set to be held in Los Angeles, the ceremony will feature performances from Lady GaGa, Dixie Chicks, Steven Tyler, James Taylor, Bette Midler and Jason Mraz. More performers will be announced later. The event is also expected to benefit the MusiCares Foundation, which gives musicians a place to turn in times of financial, medical and personal need.

King is honored for her charitable work, including her involvement with environmental organizations, as well as her contributions to the music industry. "Her contributions as a songwriter and performer have truly changed the landscape of pop music, and her philanthropy speaks volumes about her generosity and personal passions," president and CEO of the MusiCares Foundation Neil Portnow said as cited by Reuters.

King is joining several big names, including Bruce Springsteen, Paul McCartney and Barbra Streisand, who have previously received the honor.

Having won four Grammy Awards, King wrote her first No. 1 song at 17. Her best work is 1971 album "Tapestry", which makes King the first female solo artist to sell more than 10 million copies of a record. The album featured some of King's biggest hits, like "I Feel the Earth Move", "It's Too Late", and "Where You Lead".