The award, which is sponsored by PPL, will be presented to Dave at the MPG 2015 Awards on 12 February in 2015.
His music career spans three decades and more than 100m album sales, highlighted by his collaboration with Annie Lennox in the ground breaking pop-rock duo Eurythmics.
Since the pair went their separate ways, Dave has written and co-produced songs for a huge array of artists including Bono, Bryan Ferry, Gwen Stefani, Tom Petty and Fleetwood Mac’s Stevie Nicks.
Peter Leathem, chief executive officer at PPL, said: ‘Dave Stewart has had a phenomenal career and has long been recognised as one of the most respected and sought after producers in the industry.
‘Having collaborated with so many of the world’s leading artists as well as co-founding Eurythmics alongside Annie Lennox, it is only fitting that he receives the MPG's Outstanding Contribution to UK Music Award in 2015.’
The event is now one of the most prominent in the music industry calendar and once again, the MPG is collaborating with the BRITS to present the winner of its producer of the year category with a BRIT Award for best producer.
Tickets for the MPG Awards 2015 are now available to order through the website.