UEFA president Michel Platini will hand the award to Charlton in a ceremony at lunchtime at Old Trafford.
Charlton played for United from 1953 until 1973, was named European Footballer of the Year in 1966 and was a member of the United team that won the European Cup in 1968. He also played 106 times for England winning the World Cup in 1966 and still holds his country's international scoring record with 49 goals.
Platini said in a statement: "Sir Bobby represents everything that is good about the game of football; fair play, respect, and true loyalty and he is a good example for future generations, both on and off the pitch."
Oooh how that must pain Platini. He spends his life annoying United and having his little digs as and when he can fit them in.