South Korean hitmaker Psy has been named the winner of a special trophy that he will receive at this year's American Music Awards.

Although the ceremony isn't set to take place until this coming Sunday, on November 18, the star has been given the new media award for the incredible success of his single 'Gangnam Style', which became a viral sensation racking up over 717,000,000 views on YouTube.

The award will be presented to Psy by Coca-Cola Red Carpet LIVE! at the 2012 AMAs pre-show on the weekend and it'll be streaming live on YouTube and other partner sites starting at 5 p.m. ET/2 p.m. PT.

Previous honourees of the same prize have included the likes of Karmin, DeStorm and Christina Grimmie.

Meanwhile, Psy won the Best Video title at the 2012 MTV European Music Awards last weekend for 'Gangnam Style'.

Watch the video below: