The Foo Fighters frontman and former Nirvana drummer will be handed the accolade in London next month at music magazine NME`s annual awards ceremony.
Upon hearing he will receive the award, the 41-year-old rocker said: "I don`t think I`m godlike or a genius. It`s flattering. It`s a nice thing to be acknowledged for doing something you love to do, but in truth I don`t consider it a body of work because I don`t consider it work."
Dave follows in the footsteps of other musical legends to receive the honour, including New Order, Manic Street Preachers, The Cure, The Clash, Primal Scream and Paul Weller.
Dave will pick up the GodlikeGenius crown at the O2 Academy in Brixton, London on February 23, where he will also play with The Foo Fighters.
The band`s new album, which they have said will be their "heaviest ever" is due for release in the spring.