Carole King is to be named Person of the Year at the MusiCares Foundation's annual pre-Grammy gala event.King's who is singer and songwriter known for her own hits and those she wrote for others -- including the Chiffons, the Everly Brothers and Herman's Hermits, will be honored at the upcoming event announced on Thursday.

Performers at the all-star benefit -- which in recent years has honored Bruce Springsteen, Paul McCartney and Barbra Streisand -- are to include Lady Gaga, Bette Midler, the Dixie Chicks, Steven Tyler, Jason Mraz and King's longtime friend and collaborator James Taylor. Additional artists are expected to join the roster in the coming months. The event will take place on January 24th.