Paul McCartney has been named the 2012 MusiCares Person of the Year.

The rocker will pick up his latest humanitarian award during the Recording Academy's 22nd annual benefit gala, which takes place during Grammy Week in February.

The honor is bestowed on stars in recognition of their creative accomplishments as well as their charitable work. Barbra Streisand was the 2011 Person of the Year.

MusicCares was established in 1989 by the Recording Academy. The charity provides help to musicians and music professionals in times of hardship.

In a statement released on Tuesday, McCartney writes, "I've been given a great gift - a life making music - and it's my privilege to try to make the world a better place by giving back."

"For more than 20 years, MusiCares has helped so many music people in times of crisis - whether with emergency financial assistance or access to addiction recovery resources - and it is an honor to be recognized as the 2012 MusiCares Person of the Year."