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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Beware of spending beyond your means. Sticking to a budget will help you survive the festive season relatively unscathed. It will be easier than you think to let your grip on the purse strings slip especially as the big day draws near. Let Christmas be about loving, sharing and giving. Spend quality time preparing food, making decorations and playing games together. If you haven't sent all your cards or round robin emails give some thought about what you will be sharing with others this year.More