ASCAP, the American Society of Composers, Authors and Publishers, will honor Diddy with the ASCAP Founders Award during the 24th annual Rhythm & Soul Music Awards in Los Angeles on June 24.

According to the organization's website, the award is their "most prestigious honor and is given to songwriters and composers who have made pioneering contributions to music by inspiring and influencing their fellow music creators. Each recipient is a musical innovator who possesses a unique style of creative genius, which will enrich generations to come."

Past recipients have included Stevie Wonder, Paul McCartney, Bob Dylan, Smokey Robinson, Berry Gordy Jr. and Motown Industries, Billy Joel, Garth Brooks, James Taylor, Neil Young, Annie Lennox, Dr. Dre and Rod Stewart. That is a pretty impressive list of artists.

"To be recognized for my contributions to music by ASCAP, an organization that represents music creators, is a true honor," Diddy said via press release. "All I wanted to do was make people dance and hopefully inspire others to never settle for anything but their best."

"Diddy is a world-renowned producer, performer, top-notch developer of talent, fashion designer, an actor and astute businessman," said ASCAP President and Chairman Paul Williams. "His success is a testament to his entrepreneurial spirit, hard work and ingenious ability to add his personal touch to contemporary culture. He continues to be a major force in hip-hop music, and we are very proud to honor him with ASCAP's Founders Award."