"CMT Artists of the Year" will air Dec. 3. The 90-minute show will honor Jason Aldean, Lady Antebellum, Taylor Swift, Carrie Underwood and the Zac Brown Band.
Costner is best known as an Academy Award winning actor and director, but he also fronts a country band, Modern West.
The five honorees make up a new wave of country artists and are among the genre's top-selling acts.
CMT compared the sales, country radio airplay, concert grosses and activity on the network's website to determine its artists of the year. CMT plans to make the show a yearly event.