The band's first album soared to US sales alone in excess of four million.
The prog-rock legends will be joined by Asia, John Lodge of The Moody Blues and Carl Palmer’s ELP Legacy.
Caravan, Gary Brooker, Alan Parsons Project and PFM were also among those taking home silverware.
Virgil Howe, the second son of Yes guitarist Steve Howe and a member of the British rock trio Little Barrie, has died suddenly at the age of 42.
Yes began their first concert without Chris Squire with an emotional tribute to him, at their August 7 concert in Mashantucket, Connecticut.