In doing so, they join the likes of Jimmy Page, Jeff Beck, Alice Cooper and ZZ Top.
On the news of receiving the award, the band's frontman, Ozzy Osbourne, said that it's good to be a living legend than being a dead one.
The Birmingham band get their trophy at a ceremony in London's Roundhouse on 14 November, the BBC reported.
Osbourne previously won the award as a solo artist in 2008.
Black Sabbath's win comes after their latest record, 13, went to the top of the charts - giving the band their first number one album in the UK for nearly 43 years.
The group has also been nominated for band of the year, album of the year and event of the year for reaching number one.
--ANI (Posted on 10-08-2013)