Sir Paul McCartney can add another honor to his overstuffed treasure chest, as he’s recently been elected 2012 MusiCares person of the year. This award has been presented to the former Beatle in recognition of singular creative accomplishments and his charitable work, which includes a lifetime of philanthropic activities.

The Recording Academy established MusiCares back in 1989 to help musicians and music professionals in times of hardship. MusiCares steps in when emergency financial assistance or access to addiction recovery resources is needed. Every year the organization honors one person whose work on stage and off has made a huge impact and this year, they'll pay homage to Macca. He will be honored at a concert and award ceremony that will occur on Feb. 12, two days before the 54th Grammy Awards.

“The unique talent, dedication and spontaneity (McCartney) brings to his projects and live performances are unsurpassed but are equaled by the impressive generosity and commitment he consistently devotes to a range of important charitable causes” says Grammy President Neil Portnow.

Paul recognizes that MusiCares has helped so many people in times of crisis and he considers it an absolute honor to be named the 2012 MusiCares person of the year. Congratulations Paul, you deserve it.