President Donald Trump will award the Presidential Medal of Freedom to Roger Penske, a race car team owner, former professional race car driver and entrepreneur.
Trump told reporters about the decision to award Penske with the nation's highest civilian honor during a meeting alongside Canadian Prime Minister Justin Trudeau.
Trump called Penske "a great gentleman who has won 18 Indianapolis 500s" and said Penske is "very thrilled to be getting it."
NASCAR driver Richard Petty received the award in 1992.
Earlier this month, Trump welcomed Penske's racing team to the White House for their most recent Indy 500 win.
Penske also attended an April ceremony honoring one of his NASCAR team drivers, Joey Logano, for his NASCAR Cup Series win.
Penske celebrated his record 18th victory as a car owner at the Indianapolis 500 in May with driver Simon Pagenaud.