The Library of Congress sent over these details: The iconic singer-songwriter, known for such beloved hits as "You've Got a Friend," "So Far Away," "(You Make Me Feel Like) A Natural Woman" and "I Feel the Earth Move," will receive the prize in Washington, D.C., in the spring of 2013. She will be feted with a series of events, including an honoree's luncheon and musical performance in the Library of Congress's historic Coolidge Auditorium.

The prize honors the lifetime achievement of artists whose work exemplifies the standard of excellence associated with towering songwriters George and Ira Gershwin. King joins prior recipients Paul Simon, Stevie Wonder, Sir Paul McCartney and songwriting duo Burt Bacharach and Hal David in receiving the honor.

"Carole King has been one of the most influential songwriters of our time," Billington said. "For more than five decades, she has written for and been recorded by many different types of artists for a wide range of audiences, communicating with beauty and dignity the universal human emotions of love, joy, pain and loss. Her body of work reflects the spirit of the Gershwin Prize with its originality, longevity and diversity of appeal."