St. James's Palace said Harry will receive the award in Washington next month.
The palace said Harry will also receive the award on behalf of his brother, Prince William, in recognition of their charitable foundation.
"Prince Harry will use the award to pay tribute to British and American veterans' charities for their achievements in helping to rehabilitate wounded servicemen and women and to reintegrate those who have served in the Armed Forces into civilian life," the palace said.
Harry, 27, has extensive military experience and is training as an Apache military pilot. He has focused some of his charitable works on the needs of injured servicemen.
The prince has worked with Walking With the Wounded, Help for Heroes and other charities.
