Timberlake, 34, and his 33-year-old wife will receive the Inspiration Award in October, reported People Magazine.
Praising their work and efforts, the executive director of GLSEN, Dr Eliza Byard said, "They are two vocal and committed allies to the LGBT community, who are also devoted to charitable works that improve the lives of youth. (They) have consistently been visible and committed allies."
Past honourees including Julia Roberts and her husband Danny Moder, Jim Parsons and his boyfriend Todd Spiewak, Bob Greenblatt, Marilyn Katzenberg and Jeffrey Katzenberg, will be present during the ceremony.