The legendary band have played together for 35 years, during which they've sold 10 million records.
Their influence on music has already been recognised with accolades such as a Grammy, a Bafta and the prestigious Ivor Novello award.
They will now be presented with the Lifetime Achievement Awards at the Meteors.
Clannad member Moya Brennan said: "We are absolutely thrilled that we are to be presented with the Lifetime Achievement Award. It means a huge amount to us to be honoured in our home country."
The band will be performing at the awards ceremony, which takes place at The Point Theatre, Dublin, on 1 February 2007. However, fans will be pleased to note that they play their first full performance after a 10 year absence from the live scene at the Celtic Connections Festival in Glasgow on Friday 19 January 2007.