Of the honor for the Steven Tyler-fronted rock band, president and CEO Deborah Dugan credits them for 'walking the walk when it comes to raising funds to impact music people in recovery.'

AceShowbiz - Aerosmith will be honoured as next year's MusiCares Person of the Year.

Steven Tyler and his bandmates will collect their latest accolade at the 30th anniversary MusiCares benefit gala in January, two days before the Grammy Awards.

The honour comes as Aerosmith celebrate their 50th anniversary as a band.

The group announced the MusiCares prize during the Thursday night performance of their Las Vegas residency.

"As we continue to expand our services to people in need, we are thrilled to pay tribute to one of the most beloved bands of all time," said Deborah Dugan, president and CEO of MusiCares and the Recording Academy. "Aerosmith has walked the walk when it comes to raising funds to impact music people in recovery. It is sure to be an amazing evening."

Dolly Parton made history at the MusiCares gala earlier this year, when she became the first country artist to be named Person of the Year.

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