Drake to Receive Artist of the Decade Award at 2021 Billboard Music Awards

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Started from the bottom, now Drake's here!

The 34-year-old rapper will receive the Artist of the Decade Award at the 2021 Billboard Music Awards (BBMAs), Billboard announced on Tuesday.

Billboard's Artist of the Decade award is based upon the "activity on the Billboard Hot 100 songs chart and the Billboard 200 albums tally, as well as social media data and touring revenue from Billboard Boxscore, from Dec. 5, 2009, through Sept. 28, 2019," per a press release from Billboard.

Drake, who is the most awarded artist in the show's history — having collected 27 awards total — has scored eight No. 1 songs on the Billboard Hot 100 chart and garnered an impressive nine No. 1 albums on the Billboard 200 chart, the latter being the most of any artist over the past decade.

Similarly, over the entirety of his illustrious career, the "Hotline Bling" crooner is the only solo male artist to have over 50 career weeks at No. 1 on the Billboard Hot 100 chart and a record 232 entries on the Billboard Hot 100 chart, with 45 of the songs being top 10s.

RELATED: Nick Jonas Set to Host the 2021 Billboard Music Awards: 'Truly an Honor'

Set to air live on Sunday, May 23, the BBMAs will see Nick Jonas serve as host after Kelly Clarkson — his The Voice costar — served in the role over the past three years.

The annual awards show event previously announced its group of 2021 nominees, led by The Weeknd with 16 nods, followed by rapper DaBaby with 11 nominations and the late Pop Smoke with 10 nods.

Gabby Barrett and Megan Thee Stallion are the two women nominees with the most nominations with nine and seven nominations, respectively.

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This year's awards show is based on chart data from March 21, 2020 through April 3, 2021 with winners based on "key fan interactions with music," including song sales, streaming and social engagement. Meanwhile the top social artist and top collaboration categories are fan-voted.

PEOPLE previously announced that Pink is set to receive the Icon Award at the yearly ceremony, making her the tenth person to earn the award after fellow artists, including but not limited to, Mariah Carey, Céline Dion, Prince and Jennifer Lopez, did so in years past.

Pink, 41, is also set to perform during the BBMAs, as well as The Weeknd, 31, Billboard revealed.

RELATED VIDEO: Pink to Receive Icon Award at Billboard Music Awards: 'I Feel Humbled and Honored'

Some artists could make history this year, including Drake, who could break his own record since he's nominated in seven categories.

Taylor Swift, who's nominated in four categories, could tie with Drake if she were to win her four awards in the top artist, female artist, Billboard 200 artist and album categories. (She currently has 23 BBMAs.)

Meanwhile, The Weeknd or Justin Bieber could reach the No. 2 spot if they were to sweep in their categories. And, if The Weeknd wins 13 of his 16 nods, he could surpass or tie Drake's record of 13 wins in a single night.

Bad Bunny, who racked up seven nominations, is up three times in the top Latin album award for El Último Tour Del Mundo, las que no iban a salir and YHLQMDLG.

The 2021 Billboard Music Awards will air live on Sunday, May 23 at 8 p.m. ET / 5 p.m. PT on NBC.