Officials confirmed that the 54-year-old "Dr Dolittle" actor would receive the top prize for performing arts by John F Kennedy Center this year on October 18. The bestowal ceremony will be broadcast nationally, reported Ace Showbiz.
The prize is given to those who influence society in the way Samuel Clemens, better known as Mark Twain, influenced people through his writing, comments and satires.
"Through his appearances on 'Saturday Night Live', groundbreaking stand-up comedy, and work as a movie star, Eddie Murphy has shown that like Mark Twain, he was years ahead of his time," said Kennedy Center chief Deborah F Rutter.
Murphy joins previous honorees of Mark Twain prize that include Jay Leno, Carol Burnett, Tina Fey, Whoopi Goldberg and Bill Cosby.