The `Beverly Hills Cop` star will be honored at the first-ever ComedyAwards for his 30-year career in stand-up, sketch, film and television at the event, which takes place at Hammerstein Ballroom in New York on March 26.
Casey Patterson, executive producer and executive vice president, event production, MTV Networks Entertainment Group said: "EddieMurphy`s impact in the world of comedy is immeasurable.
"From the characters he created on `SNL,` to his groundbreaking stand-up performances and unforgettable film roles, Murphy changed the game forever and we`re honored that he will be joining us for the first-ever ComedyAwards."
Grammy Award-winning act The Roots will entertain guests as the ComedyAwards` house band.
Nominees for the other trophies being handed out at the ceremony were announced earlier this month, when it was also revealed a special award, the Johnny Carson Award For Comedic Excellence, will be given to "an individual who embodies the comedic excellence of the renowned and beloved comedic powerhouse."
The recipient for the honor has not yet been revealed.
The awards will be broadcast on April 10 in the US simultaneously across MTV Networks` COMEDY CENTRAL, Spike TV, TV Land, VH1 and Nick At Nite.