Paul McCartney will be honored as the 2012 MusiCares Person of the Year at a special event on Feb. 10 that will celebrate the former Beatle‘s exceptional artistic achievements as well as his philanthropic work. And the list of celebrities expected to pay homage is not only long, but impressive.

Actor and comedian Eddie Izzard (‘Cake or Death?’) is set to host the evening’s festivities, which will include a silent auction benefiting MusiCares, an organization established in 1989 by The Recording Academy to provide help to musicians in times of financial, medical and personal need. MusiCares also focuses the resources and attention of the music industry on human service issues that directly impact the health and welfare of the music community.

A star-studded tribute concert follows — and oh my, how star-studded it’ll be. Tony Bennett, Foo Fighters, Neil Young with Crazy Horse (which is awesome, except, does that mean the Buffalo Springfield tour is not coming back now?), Norah Jones, Alicia Keys, James Taylor, Diana Krall and Katy Perry are just some of the artists slated to play — along with Sir Paul himself, of course. In addition, a host of other celebs and prominent music industry and entertainment executives are scheduled to attend.

Now in its 22nd year, the MusiCares Person of the Year tribute is one of the most prestigious events held during Grammy Week. The celebration culminates with the 54th Annual Grammy Awards on Sunday, Feb. 12.