Joey Dunlop is to be posthumously awarded the prestigious Segrave Trophy, an award for speed exploits on land, water or in the air.
It is named in memory of Sir Henry Segrave, the first man to break 200mph on land. He died trying to exceed 100mph on water.
Joey’s widow Linda will be presented with the award at the RAC headquarters in London in September.
Spokesman Phil Drackett said: " Joey has been nominated in the past for his fantastic achievements – and this time he was considered to be the outstanding candidate for the award. "
He is the third person to be honoured posthumously, following world record breaker Sir Donald Campbell and racing car driver Bruce McLaren.