Former President Mary McAleese and her husband Senator Martin McAleese will both receive the 2011 Tipperary International Peace Award.
The Tipperary Peace Convention announced the joint recipients yesterday - World Day of Peace.
It paid tribute to the work carried out by Mr and Mrs McAleese in both Northern Ireland and the Republic, as well as their efforts to forge stronger ties between the Republic and United Kingdom.
Past recipients of the peace prize include former South African President Nelson Mandela, Live Aid organiser Bob Geldof and former US President Bill Clinton.
Mrs McAleese made history in May last year when she played host to the Queen - the first British monarch to visit an independent Ireland.
"The theme of Mary McAleese's presidency was Building Bridges and for many people the highlight of her two terms as President was the visit of Queen Elizabeth, which undoubtedly was the culmination of President McAleese's long and dedicated work for reconciliation," a spokesman for the convention said.