He will also receive the Michael Jackson Video Vanguard award at the show on August 25, the network said.
Timberlake is tied with Macklemore & Ryan Lewis for the most nominations, with six each.
Timberlake's nominations include video of the year, best male video and pop video for Mirrors.
His comeback album, The 20/20 Experience, is the year's best-selling album. He will release The 20/20 Experience: 2 of 2 on September 30.
Lady Gaga, Kanye West, Katy Perry, Miley Cyrus and Robin Thicke will also perform at the VMAs.
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