Domingo is to be presented with the honor at a star-studded concert and tribute dinner Nov. 10 at the Mandalay Bay Convention Center in Las Vegas.
The concert will feature many of Domingo's friends performing some of his pop duets, as well as some of his favorite music, organizers said.
A portion of the proceeds from the gala will benefit one of Domingo's chosen charities, as well as the Academy's outreach and educational programs.
The event will precede the 11th annual Latin Grammy Awards show, which will be held at the Mandalay Bay Events Center in Las Vegas and will be broadcast live on the Univision Network Nov. 11.
"The Latin Recording Academy and its Board of Trustees take great pride in honoring Placido Domingo as an extraordinary musician, philanthropist and, above all, a great human being whose immense talent and generosity has had a profound global impact," Gabriel Abaroa, the Academy's president and chief executive officer, said in a statement. "We are privileged to pay tribute to one of the most respected musical voices of our time, as well as a man whose selflessness has benefited many around the world."
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