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The 66-year-old has been honoured for having 10 million plays of 'Brown Eyed' Girl on US radio.
The singer from Northern Ireland received the award at the BMI Awards in London, where Queen, who are celebrating their 40th anniversary, got the Icons Award.
Irish band The Script took the award for the most played song in the US by a European act in the past year with their hit Breakeven.
Belfast-born Morrison first released Brown Eyed Girl in 1967 when the then 22-year-old’s solo career had just kicked off.
However, despite its astronomical success, Sky News reports that in an interview he said: "It’s not one of my best. I mean I’ve got about 300 songs that I think are better."
Listen to 'Brown Eyed Girl' below...what do you think?