According to The Hollywood Reporter, legendary folk singer Bob Dylan has been chosen as the 2015 MusiCares Person of the Year by the Recording Academy and will be honored at a benefit gala and concert Feb. 6.

Performers at the gala will include The Black Keys, Beck, Norah Jones, Los Lobos, John Mellencamp, Neil Young, Jack White, Bonnie Raitt, Tom Jones, Eddie Vedder, John Doe, Willie Nelson and Crosby, Stills & Nash.

"Bob Dylan's songwriting ability is unmatched," says MusiCares Foundation Board Chairman Bill Silva, "and it will be an extraordinary evening to hear his work showcased by such a remarkable group of artists."

Founded in 1989 by the Recording Academy, MusiCares is a nonprofit that provides medical assistance to musicians in need. All profits from the annual Person of the Year Gala go toward the MusiCares Foundation.

Dylan's "body of creative work has contributed to America's culture, as well as that of the entire world, in genuinely deep and lasting ways," says Neil Portnow, president and CEO of the Recording Academy and the MusiCares Foundation.

Other recipients of the MusiCares Person of the Year Award in recent years include Carole King, Bruce Springsteen, Paul McCartney, Barbra Streisand and Neil Young. The award dates back to 1991 and was first given to David Crosby.

This has been a pretty busy year for the 73-year-old Dylan. After sharing a cover of Frank Sinatra's "Full Moon and Empty Arms" back in May, it was revealed the song would be included on his next studio album, which should be out before the end of the year.

In addition to this new album, Dylan will also be releasing The Basement Tapes Complete Nov. 4, which will compile all 138 tracks recorded with the Band in the late 1960s during the sessions for the classic Basement Tapes album.

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