The Scot will become the third recipient of the Gold Medal which recognises an individual who has given a lifetime of service to motorsport and who leaves a lasting legacy.
Former FIA President Jean Todt was the inaugural winner in 2021, before Stewart presented legendary American motorsport team boss and latterly the owner of the IndyCar Series and Indianapolis Motor Speedway Roger Penske with the award in 2022.
Stewart won the third of his world championships 50 years ago in 1973 and went on to co-found the Stewart Grand Prix team which in its current guise as Red Bull Racing has won all but one F1 race this year.
"I am extraordinarily proud to receive this prestigious award in the company of the two previous recipients, who have both certainly done so much for the world of motorsport," said Stewart.
"I am therefore extremely touched to have also been given this wonderful recognition.
"Motorsport continues to be in my life in so many different ways and I have been a follower of motorsport since my very early years when my brother, Jimmy, was racing for Ecurie Ecosse. I am incredibly honoured."
Having impressed with his performances in Jaguar E-Types and in Formula 3, dominating the British championship in 1964, Stewart graduated to F1 in 1965 with BRM and won at Monza in his first season.
He remained with BRM for a further two seasons alongside appearances in the Indianapolis 500, leading until late in his 1966 debut outing when oil pressure failure sidelined him, before linking up once more with F3 team boss Ken Tyrrell to race a Matra in 1968.
His time in the French cars yielded the world championship in 1969, and one of the most famous grand prix wins of all by over four minutes at the Nurburgring in 1968.
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Stewart continued with Tyrrell when 'Uncle Ken' became a March customer in 1970, before scooping two more titles with Tyrrell's own cars in 1971 and 1973.
A serious accident at Spa in 1966 prompted Stewart to push for improved safety standards in F1, which continued following his retirement from driving on the eve of the 1973 finale at Watkins Glen after the death of team-mate Francois Cevert in practice.
Stewart's motorsport involvement continued as a regular commentator on F1, NASCAR and Indycar broadcasts, and later supported son Paul's racing career.
The Paul Stewart Racing team proved successful in junior single-seaters and joined the F1 grid in 1997 as the works Ford effort, famously winning the 1999 European Grand Prix before being sold to Ford and being rebranded as Jaguar Racing in 2000.
He was the President of the British Racing Drivers Club (BRDC) that runs Silverstone from 2000 to 2006, and remains a popular presence in the grand prix paddock as a brand ambassador.
Stewart set up the charity Race Against Dementia in 2018, and has been at the forefront of raising funds for breakthrough dementia research.
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