Narayen and Murthy will be honoured with the prestigious 'Great Immigrants' annual award on US's independence day on July 4.
Murthy, 39, born in the UK and a Harvard and Yale alumnus, was appointed by former President Barack Obama in 2014, becoming the first-ever Indian-American to occupy the post and also the youngest ever surgeon general of the country.
However, Murthy was dismissed this year in April by the Trump administration.
Among other honorees include Canadian-origin social entrepreneur Jeff Skoll, who has been awarded the 2017 Carnegie Medal of Philanthropy, PayPal cofounder of Ukrainian origin Max Levchin, Iranian-origin philanthropist and entrepreneur Hushang Ansary.
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"Our annual tribute to 'Great Immigrants' demonstrates the richness of talent, skills, and achievements that immigrants from around the world bring to every sphere of American society," said Vartan Gregorian, president of Carnegie Corporation of New York.
"This campaign reminds us of the debt the United States owes to generations of immigrants who become citizens and contribute to the progress of this country. Today, we celebrate and thank them," he said.
The Carnegie Corporation of New York was established in 1911 by Scottish immigrant Andrew Carnegie to promote the advancement and diffusion of knowledge and understanding.
In keeping with this mandate, the corporation's agenda focuses on the issues that Andrew Carnegie considered of paramount importance: international peace, the advancement of education and knowledge, and a strong democracy.