Actor-director Cate Blanchett and singer Elton John are the other awardees this year, according to the official website of the World Economic Forum.
"Each of them in their own way has taken action to uphold human dignity," read the statement.
Shah Rukh is being feted as he is a founder of the non-profit Meer Foundation, which provides support to female victims of acid attacks and major burn injuries through medical treatment, legal aid, vocational training, rehabilitation and livelihood support.
He has also been responsible for the creation of specialized children's hospital wards and has supported childcare centres with free boarding for children undergoing cancer treatment.
Expressing gratitude for being chosen for the honour, Shah Rukh tweeted on Thursday: "Thank you for this honour. I consider my work with these heroic and beautiful women a great privilege as it imparts dignity and purpose to my life. I hope to spread awareness of the unparalleled heroism of these ladies and reach out to others in order to carry this work to its conclusion."
Thank u for this honour. I consider my work with these heroic & beautiful women a great privilege as it imparts dignity & purpose to my life. I hope to spread awareness of the unparalleled heroism of these ladies & reach out to others in order to carry this work to its conclusion https://t.co/i6cEU6go6V— Shah Rukh Khan (@iamsrk) January 11, 2018
The 24th Annual Crystal Awards celebrate the achievements of outstanding artistes who have shown exemplary commitment to improving the state of the world.
The awards ceremony will take place on January 22, at the launch of the annual meeting.
This year's World Economic Forum will have the first Indian Prime Minister participating since 1997, with Narendra Modi slated to address the plenary session of the prestigious global business meet.