The Jacksons are to be named Icons at the BMI's eighth annual Urban Awards ceremony in Los Angeles, fuelling speculation the group may reform, BBC reported.
So far all the brothers, apart from Michael, have confirmed their attendance, BMI's publicist said.
The Jacksons will receive the honour at the ceremony in September, where an all-star tribute is planned.
Last year, brother Jermaine told the BBC the group had discussed a reunion and could tour "sometime in 2008".
There were also rumours of a residency at London's O2 Centre this year.
The Icon award is given to BMI songwriters and artists who have had "a unique and indelible influence on generations of music makers".
The Jackson Five, featuring brothers Tito, Marlon, Jackie, Jermaine and Michael, formed in 1966 and were the first group to have their first four singles hit number one.
They wrote and recorded multiple hits including ABC and I Want You Back and were inducted into the Rock and Roll Hall of Fame in 1997.
The group last toured as The Jacksons, with six members - including brother Randy who joined the group in 1976 - in support of the Victory album in 1984.
BMI, the US performing rights organisation, holds a number of awards ceremonies every year.
In addition to the Icon presentation, BMI will recognize the year's top urban songs, crowning the urban songwriter, song, producer and publisher of the year award winners.
Other artists to have received the honour include James Brown, Isaac Hayes, Little Richard, Chuck Berry, The Bee Gees, and Carlos Santana.