Previous recipients of the award include Taylor Swift, Ed Sheeran, Adele and One Direction.
The cruise is scheduled to depart from Miami on 28 June, before making a stop in the Bahamas and returning on 1 July.
This year's event will be held at LA's Staples Center and hosted by Alicia Keys.
This latest roster of talent will join the previously announced performers including Camila Cabello, Cardi B, Dan + Shay, Malone, Shawn Mendes, Janelle Monáe, and Kacey Musgraves.
The iconic rapper last visited these shores back in March 2017 in support of his fourth album 'Views.'
Today the super duo have released a new music video for the hit track, featuring a goofy behind-the-scenes footage of the two recording in the studio and performing onstage together.
Also leading the hip-hop noms is Post Malone, who snagged five nominations including Male Artist Of The Year and Hip-Hop Artist Of The Year, as well as Song Of The Year for...
A two-hour extravaganza, the show will be hosted by Shelton and feature contemporary artists from all genres of music performing Presley's classic songs.
The new track arrives hot on the heels of ‘Sunflower’: the star's collaboration with Rae Sreummurd’s Swae Lee from the soundtrack to 'Spider-Man: Into The Spider-Verse.'
Ludacris, Cardi B and Bruno Mars are also on the star-studded festival bill.
The performances will be held at range of venues Including Madison Square Garden, the Barclays Center, and The Grand Ole Opry House.
The star-studded soundtrack features Nicki Minaj, Little Wayne, Juice WRLD and Post Malone, among others.
Malaysian pop star and R&B sensation Yuna offers a dreamy take on Post Malone’s towering hit ‘Better Now’.
The annual Pollstar ceremony honors the top achievers in the live entertainment industry.
The hip-hop superstar will headline three huge Lollapalooza festivals in Argentina, Chile and Brazil in late March and early April.