The US singer has been chosen as one of the recipients of the LennonOno Grant For Peace, which will be handed out in Iceland, by Lennon's widow Yoko Ono next week.
Other recipients include the late writer Christopher Hitchens and Russian punk act Pussy Riot, three of whose members have been imprisoned for a political protest.
The awards are handed out every other year on October 9 – the birthday of the former Beatles star.
Ono said: "Lady Gaga is one of the biggest living artists of our time. She is not only an artist, she is also an activist."