She is the first woman to receive the Gershwin Prize for Popular Song from the Library of Congress.
The White House says Obama will present the award to King during a concert Wednesday. The program will include performances by King, Gloria Estefan, Billy Joel, Jesse McCartney, Emeli Sandé, James Taylor and Trisha Yearwood.
King's hits during five decades of songwriting include "You've Got a Friend," ''So Far Away" and "(You Make Me Feel Like) A Natural Woman."
Wednesday's concert will be the latest in the "In Performance at the White House" series. It will be streamed live on the www.whitehouse.gov, and broadcast nationally by PBS stations on May 28.