Sabri, a prominent qawwali singer in south Asia, was shot dead in Pakistan last month.
"It's a big honour for me to pay homage to a great artist besides hosting a grand celebration of one of our biggest award shows," Ali said in a statement here.
Zafar will be singing the qawwali at the 15th Lux Style Awards in Pakistan.
Besides this, Ali will also be hosting the show for the first time.