The Union HRD ministry announced the names of the awardees today on the occasion of the 69th Independence Day.
The award will be given by President Pranab Mukherjee later in a programme at Rashtrapati Bhavan.
All the awardees will be given a cash award of Rupees five lakhs and a citation.
Prof Dixit has been a professor of philosophy at Sampurnanand Sanskrit University, Varanasi and earlier at Poona University, Pune.
He is presently residing at Ranchi and engaged in the spread of the philosophy of the Vedanta, the Gita and the Bhagawat.
A renowned Professor of Poona University and Sampoornanand Sanskrit University, Prof Dixit has been giving sermons on Bhagwat Gita and Vedanta at Theosophical Society, Varanasi and Malviya Mission, Banaras Hindu University.