Diddy is set to receive the 2023 Global Icon Award at this year's MTV VMAs.

The mogul will be the third recipient of the award, following the Foo Fighters and Red Hot Chili Peppers, who were the 2021 and 2022 award-winners. MTV adapted the award from its Europe Music Awards (EMAs).

In addition to receiving the award, Diddy will also be hitting the stage as a performer. He recently announced that his anticipated new album,The Love Album: Off The Grid will arrive on Sept. 15 — so it's reasonable to expect him to perform new music from project.

“Music is my first love and music has given me a second chance at life, so stepping back into the studio to make this album has been a soulful experience that brought me closer to myself and my purpose,” he said. ”This album wasn’t created to feed an algorithm or be relevant with the trends of the times, it was created to touch souls and freely express my story with the best artists, writers and producers shaping the future of R&B.”

The 2023 MTV Video Music Awards are set to air live from New Jersey’s Prudential Center on Tuesday, September 12 at 8:00 p.m. EST.