NME editor Mike Williams said: "We've spoken to the biggest and best musicians around, and they've told us, 'Paul McCartney is the world's ultimate songwriter'. Paul's enduring and stunning talent is worth celebrating, and I'm incredibly honoured that NME are giving him the special, one-of-its-kind Songwriter's Songwriter award to recognise that."
The Beatles legend will pick up his award at the NME awards on February 26, 2014, at the O2 Academy in Brixton, London.
McCartney is the third winner to be announced so far, as Damon Albarn is to pick up the new Innovation award, while Blondie has been named this year's Godlike Genius.
Fans have been casting votes across 20 categories for this year's awards, and the Arctic Monkeys currently stand in the lead with eight nominations, Haim follow closely with six, while Queens of The Stone Age, Lily Allen and Arcade Fire all have three nods.
Blondie have been confirmed to perform at the ceremony and other artists will be announced shortly.
The event is being sponsored by the city of Austin in Texas.