King is the first woman to receive the honor. The prize "honors the lifetime achievement of artists whose work exemplifies the standard of excellence associated with towering songwriters George Gershwin and Ira Gershwin."

President Barack Obama and First Lady Michelle Obama will host the 7 PM concert in the East Room. King will perform alongside such artists as Gloria Estefan, Billy Joel, Jesse McCartney, Emeli Sandé, James Taylor and Trisha Yearwood.

In addition to the 7 PM live stream (whitehouse.gov/live), "Carole King: The Library of Congress Gershwin Prize In Performance at the White House" will be broadcast on PBS stations nationwide starting at 8 PM.

Prior to the White House concert, the Library of Congress will host a May 21 invitation-only concert at the Coolidge Auditorium in King's honor, featuring performances by Patti Austin, Colbie Caillat, Michael Feinstein, Siedah Garrett, Louise Goffin, Shelby Lynne, Gian Marco, Arturo Sandoval and a special performance by honoree King.

King's breakout 1971 smash album "Tapestry" remains one of the best-selling records of all time. It is the first female solo album to reach Diamond status, surpassing 10 million copies sold, as certified by the Recording Industry Association of America's Gold and Platinum Program (the milestone has been achieved by only 11 other female solo artists in history).

Beautiful, the new musical based on King's life and work, will premiere this fall at San Francisco's Curran Theatre prior to a 2014 spring Broadway bow.