The Aerosmith star will be feted at the prizegiving event in Anaheim, California for "(setting) the highest standards of excellence in the creative application of recording technology," according to Billboard.
"Anytime my name is mentioned in the same sentence as Les Paul, it's a huge honor. Getting an award bearing his name is the icing on the cake," a statement from Perry read.
"Joe Perry was a friend of Les Paul's and is undoubtedly one of the most innovative and talented musicians of our time," Michael K Braunstein, executive director of the Les Paul Foundation, said.
Past recipients of the accolade include Slash, Pete Townshend, Brian Wilson, Peter Gabriel, and Stevie Wonder.
In addition to Perry, Aerosmith producer and engineer Jack Douglas will also be inducted into NAMM's Hall of Fame at the ceremony.