The Eurythmics co-founder said that PRS 'truly understands the evolving landscape of creativity'.
The ceremony will take place at BFI Southbank in London next month.
The 30-year-old triumphed with his album 'Blood, Sweat & Fears'.
Asha Gold, I.JORDAN and Antony Szmierek are among the songwriters and composers to be highlighted.
The Leeds quartet are the first act from outside London to win the prize in a decade.
Eric will be formally presented with the honour in November.
The acclaimed composer has been appointed Master of the King's Music by King Charles.
The winner of this year's prize will be announced in September.
The figure has been revealed as part of UK Music's latest report into music tourism.
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