Bowl officials announced the award Wednesday.
Big & Rich, known for hits like "Comin' to Your City" and "Lost in This Moment," will receive the award Dec. 28 at the President's Gala. Past recipients include Danny Thomas, Elvis Presley, B.B. King, Lou Rawls, Alabama and The Temptations.
John Rich, who won Donald Trump's "The Celebrity Apprentice" in 2011, raised more than $1.4 million that he donated to St. Jude Children's Research Hospital in Memphis.
The Liberty Bowl will match teams from the SEC and Big 12 Conference, according to its website.