The Apple co-founder and mind behind the wildly popular iPod, iPad and iPhone died in October after battling pancreatic cancer.
Jobs, a Trustees Award honoree, will be remembered as having helped "create products and technology that transformed the way we consume music, TV, movies, and books," a statement from the National Academy of Recording Arts and Sciences said.
Lifetime Achievement Awards will be given to the Allman Brothers Band, country crooner Glen Campbell, Antonio Carlos Jobim, country star George Jones, soul stars the Memphis Horns, Ross and rap trailblazer Gil Scott-Heron, at the 54th edition of the awards fete.
Jobim, who died in 1994 at 67, is considered one of Brazil's most influential musicians, helping earn world renown for the bossa nova.
Diva Diana Ross, 67, won an Academy Award nomination for her turn as Billie Holiday in "Lady Sings the Blues" (1972), and will be honored for her musical career that has spanned decades. Though she has been nominated for Grammys on many occasions, the Lifetime Achievement honor will be her first Grammy.
"This year's honorees offer a variety of brilliance, contributions and lasting impressions on our culture," said Neil Portnow, president and CEO of The Recording Academy. "It is an honor to recognize such a diverse group of individuals whose talents and achievements have had an indelible impact on our industry."
Vinicius de Moraes and Tom Jobim wrote the legendary "Garota de Ipanema" (Girl from Ipanema) in 1962, and it became a sort of anthem of Brazilian culture, with covers done by everyone from Frank Sinatra to Nat King Cole and Madonna.