Sir Paul follows in the footsteps of past Gershwin honorees Paul Simon (2007) and Stevie Wonder (2009).
Performers scheduled to perform McCartney tunes include Stevie Wonder, Elvis Costello, Faith Hill, Jonas Brothers, Jack White, Emmylou Harris, Herbie Hancock and Corinne Bailey Rae. Jerry Seinfeld will provide standup.
The program will air July 28 on PBS as part of the In Performance at the White House" series.
The Gershwin Prize is meant to honor artists whose creative output transcends distinctions between musical styles and idioms, bringing diverse listeners together, and fostering mutual understanding and appreciation."
The prize's advisory committee consisted of Simon, Rickey Minor, Carol Bayer Sager, Jimmy Webb and Paul Williams.
In a statement, Billington said McCartney has made an impact far beyond music through his humanitarianism and activism around the world, which are emblematic of the spirit of the Gershwin Prize."
For more information contact All About Jazz.