Iconic singer Lionel Richie has been named the 2016 MusiCares Person of the Year.

The superstar is set to receive the honour next year in recognition of his extensive career with the Commodores and also as a solo artist, as well as for charity work for causes including breast cancer, AIDS, poverty, and human trafficking.

Speaking about the award, Richie explained: "As far as I'm concerned, this is the highest honour in our music business because it means you have a career. You've survived the journey, if you will. The people who have been there defy categories. When you say Barbra Streisand, Bob Dylan and Paul McCartney -- are you kidding me? When I got in this business I wanted to be like them."

The 26th annual MusiCares benefit gala will take place on February 13, 2016 and it will be held in aid of musicians in need of financial, medical or personal help.

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Watch a recent interview with Richie here: