Mishra will be the second Hindi author who will recieve this honour after it was given to Harivansh Rai Bachchan in 1991.
The book "Dhool Paudho Par" was published in 2008.
The award, established in 1991, carries Rs 10 lakh as cash prize along with a certificate, a statement issued by K K Birla Foundation said today.
Mishra's first novel "Wo Apna Chehra" was published in 1969. His famous novel "Lal Peeli Zameen" published in 1976 was much talked about.