The Purple One strikes again. With most nominees already announced for this year's BET Awards, the network has revealed that it will honor Prince with the BET Lifetime Achievement Award when the ceremony airs live from the Los Angeles Shrine Auditorium on June 27.

"Prince is dynamic. Prince is genius. Prince is music," said BET's President of Programming Stephen G. Hill, noting that the singer will be celebrated for his 'unique style.'

Prince joins previous recipients such as James Brown, Diana Ross, Al Green and Chaka Khan, honored for their remarkable contributions to the music industry. John Legend is also set to receive the special BET Humanitarian Award, given to a philanthropist who donates money and time to charitable causes. Legend joins Wyclef Jean, Quincy Jones and Alicia Keys in receiving this accolade.

This year's ceremony, hosted by Queen Latifah, is slated to feature performances from Ludacris, Drake, Janet Jackson, Diddy-Dirty Money, Nicki Minaj, T.I., Trey Songz and more, with a special performance planned by Kanye West, who will make his award show debut since he notoriously interrupted Taylor Swift's acceptance speech during the 2009 MTV Video Music Awards. In addition, this year, online voters will decide who wins the Fandemonium Award, which will be presented during the show. Nominees include Nicki Minaj, Trey Songz, Justin Bieber and Chris Brown.

Prince recently released a new song 'Cause and Effect' earlier this year, and was honored as one of Time Magazine's 100 Most Influential People in the World in 2010. His twenty-sixth album, 'LOtUSFLOW3R,' was released in March 2009, debuting at Number Two on the Billboard Album Chart and has sold more than 400,000 copies to date.