Lil Wayne paid tribute to his mentor and friend Babyface, who received the Icon Award.
John Oates will be feted with BMI's Troubadour Award during a ceremony in September.
Miley Cyrus, Gregory ‘Aldae’ Hein and Michael Pollack took song of the year for Cyrus’ megahit, “Flowers.”
He won back-to-back Primetime Emmy Awards in 2018-19 for his work on the HBO series Game of Thrones.
Dorinda Clark-Cole and Jonathan McReynolds received special honors.
The March 28 ceremony will also celebrate top gospel songs, songwriters and music publishers.
Wallen's "You Proof" was named BMI country song of the year, while Warner-Tamerlane Publishing Corp. was named publisher of the year.
Previous BMI Troubadour Award recipients include John Hiatt, John Prine, Robert Earl Keen and Lucinda Williams.
The awards will be held on Tuesday, May 9, at the Beverly Wilshire Hotel.