This is thanks to his innovative approach to music and the great impact he has had on the world. 

Yankee will receive the award along with Los Lobos, Victoria Alonso and other Latino artists whose names have not been announced and are expected to be in the coming weeks, the HHF said in a statement Thursday.

"We honor his service to our community with the work of his foundation Casa de Daddy Yankee and his work with organizations that support those in need in Puerto Rico and beyond," said HHF President José Antonio Tijerino.

Daddy Yankee is known as "the King of Reggaeton," has sold more than 30 million records, has received five Latin Grammy Awards, two Billboard Awards and fourteen Latin Billboard Awards.

The 35th Annual HHF Awards will be held on Friday, September 30 on the Public Broadcasting Service (PBS).

In its press release, HHF described the artist as "an undisputed icon who remains one of the most influential artists of all time", and pointed to his songs "Gasolina", "Despacito" shared with Luis Fonsi, and "Con Calma", with Snow, as examples.

Daddy Yankee, who is also a record producer and radio broadcaster, created the word "reguetón" in 1994 for the musical genre that emerged in Puerto Rico, which combined the rhythms of hip hop, Jamaican reggae, Hispanic music from the Caribbean and rap sung in Spanish.

In 1988, the Hispanic Heritage Awards were created by then U.S. President Ronald Reagan to commemorate Hispanic Heritage Month, and since that time it has been held annually between September 15 and October 15.

HHS has honored other well-known Latin American artists such as Rita Moreno, Celia Cruz, Tito Puente, Gloria Stefan, Judge Sonia Sotomayor, Martin Sheen, Ricky Martin, Ruben Blades, Fania All-Stars, Jose Feliciano and Los Tigres Del Norte.