Former India captain Dilip Vengsarkar will receive the CK Nayudu Lifetime Achievement Award for 2014, a Board of Control for Cricket in India (BCCI) statement said on Tuesday.
He will be handed a citation, trophy and cheque for Rs.25 lakh at the eighth annual BCCI Awards Ceremony to be held in Mumbai on Friday to recognise and reward India's top performers in the 2013-14 season.
Vengsarkar was nominated for the award by a committee comprising interim BCCI president Shivlal Yadav, secretary Sanjay Patel and senior journalist Shekhar Gupta.
Former India skipper Kapil Dev received the award in 2013.
Vengsarkar, regarded as one of India's best batsmen, is also known by the nickname 'Colonel'. The 58-year-old made his international debut against New Zealand at Auckland in 1975-76.
He was called up for the national team after coming into prominence with a fine knock of 110 runs for Mumbai against the Rest of India in an Irani Trophy game in the 1975-76 season.
The Mumbaikar is the only non-English batsman to score three Test hundreds at the Lord's cricket ground and is the second Indian to have played 100 Tests.
He is a member of the 1983 World Cup and the 1985 World Championship winning Indian teams and was rated the world's number one batsman in the 1986-87 season.
The right-handed batsman was one of the few batsmen who was successful against the West Indies, the most successful team of his era, with six centuries.
He took over the captaincy from Kapil in 1987-89 and led India in 10 Tests, losing five and winning only twice.
He retired in 1992 and has since donned the role of an administrator, becoming the chairman for the BCCI's Talent Research Development Committee for three years and then the chairman of the Selection Committee for the period 2006-08.
Also, medium pacer Bhuvneshwar Kumar was chosen for the annual Polly Umrigar Award for best international cricketer of this season. He will receive a trophy and Rs.5 lakh.
Kumar claimed 22 wickets in seven Tests, 17 wickets from 22 One-Day Internationals (ODI) and seven wickets from seven Twenty20 internmationals. He also scored 263 runs including three fifties.
Jammu and Kashmir's Parvez Rasool was chosen as the best all-rounder award. He will be given the Lala Amarnath Award and Rs.2.5 lakh. He scored 663 runs and took 27 wickets from nine Ranji Trophy matches.
Vinay Kumar was declared the best all-rounder in domestic limited overs competitions and will receive a sum of Rs 2.5 lakh.
Other winners included: Kedar Jadhav (Maharashtra CA) - Highest scorer in Ranji Trophy in 2013-14, Rishi Dhawan (HPCA) - Highest wicket-taker in Ranji Trophy in 2013-14, Rahul Tripathi (Maharashtra CA) - Best Under-25 cricketer in 2013-14, B. Anirudh (Hyderabad CA) - Best Under-19 cricketer in 2013-14, Shubham Gill (PCA) - best Under-16 cricketer of 2013-14, Smriti Mandhana (Maharashtra CA) - Best women cricketer (Jr) of 2013-14, Anil Chaudhary - Best Umpire in Domestic cricket in 2013-14.