The award comprises a purse of Rs 1,50,000 and a citation, a department release said here today.
The award has been instituted to honour artists who make significant contributions to classical dance, it said.
Subrahmanyam is one of the prominent Bharatanatyam exponents of India and her contributions to the field are remarkable, it said.
The award will be presented to her at a function here on Tuesday, the opening day of the annual Nishagandhi Festival, organised by the department, the release added.