The 85-year-old has been chosen to receive the Johnny Carson Award for Comedic Excellence.
Jon Stewart will present Rickles with the award.
Rickles credits Carson for giving him his big break on "The Tonight Show" when he first appeared in 1965. He went on to be a frequent guest, appearing more than 100 times and would even fill-in for Carson.
Rickles is the second recipient of the award. Last year it went to David Letterman.
The Comedy Awards will take place April 28 and will air on Comedy Central on May 6.
The event celebrates the world of comedy from stand-up to film to TV.
