Miuccia Prada will receive the Outstanding Achievement Award at The Fashion Awards 2018.
The 69-year-old designer is set to be presented with the coveted accolade at the December 10 ceremony to be held at London's Royal Albert Hall.
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And British Vogue's editor-in-chief, Edward Enninful - who is a member of the British Fashion Council - has praised Prada as ''a genius''.
He said: ''Mrs Prada is the most revered, most inspirational and probably the most copied designer of her generation.
''She's bold and she's not scared to break rules or go into new territory. She has made us look at body shape differently. She has made us look at what is ugly and what is beautiful.
''She has trained people's eyes to a new way of dressing, one that is not based on the classic idea of the female form. She's a genius!''
The A-list event is set to be hosted by model and activist, Alek Wek, and actor and comedian, Jack Whitehall, while photographic legends Mert Alas and Markus Piggot have been announced as the recipients of the Isabella Blow award for Fashion Creator(s).
On the decision to celebrate the career of Mert and Marcus - who have worked with the likes of Oprah Winfrey, Kate Moss, Kim Kardashian, Gucci and Calvin Klein -Caroline Rush, BFC Chief Executive commented: ''We are thrilled to present the Isabella Blow Award for Fashion Creator to Mert and Marcus and acknowledge them for their remarkable contribution to the global fashion industry.
''Mert and Marcus have a unique way of portraying glamour, youth and fantasy, making them one of the forces of our industry. We look forward to celebrating with them, their clients and friends in London in December.''