Multiple Grammy-winning jazz superstar Herbie Hancock also picked up The PPL Lifetime Achievement Award.
The influential duo have already been confirmed for Coachella, Primavera Sound, and Lovebox this year.
The show premieres on Wednesday, 4 March at 9 p.m. Eastern Time on Sirius XM's Volume (channel 106).
The event is being curated by Fleetwood Mac co-founder Mick Fleetwood and will also feature Billy Gibbons, David Gilmour, Bill Wyman and many more.
The year's event took place at the O2 Academy Brixton, where it was hosted by Katherine Ryan and Julie Adenuga.
The Swedish star said, "I feel very humbled and honoured to be given this award".
The legendary Bristolians join Tame Impala and Kraftwerk in topping the bill at the London festival.
The shows are additional to a series of sold-out London shows at the end of May and beginning of June.
Billed as “The greenest show Finsbury Park has ever seen”, the Manchester band will head to the historic location on 11 July.
Recently, the London-based band presented ‘Speakers Corner’ - an evening of conversation inspired by the themes of their new album.
The event will take place in a variety of north London venues from 6 to 8 March.
Support will come from James Blake and Brittany Howard, with more names set to be announced soon.
The event promises “A series of filmed round table talks with a host of incredible activists, writers and comedians joining us to tackle some of the biggest discussions today."
The winners will be revealed next month at the annual awards ceremony, which is due to take place at London’s The O2 on 18 February.
Fans report that the star's set list at the show also included 'Lover', 'You Need To Calm Down', 'Shake It Off' and more.
Part of London's annual British Summer Time concerts programme, the pop giant's show will be on Saturday, 11 July.