Tom Petty will receive the Century Award from Green Day vocalist/guitarist Billie Joe Armstrong at next week's 2005 Billboard Music Awards. As previously reported, the event will be held Tuesday (Dec.

Tom Petty will receive the Century Award from Green Day vocalist/guitarist Billie Joe Armstrong at next week's 2005 Billboard Music Awards. As previously reported, the event will be held Tuesday (Dec. 6) at Las Vegas' MGM Grand Garden Arena and will be broadcast live on Fox.

The inaugural Century Award was presented by Petty to George Harrison in 1992 and was named for the imminent 100th anniversary of Billboard in 1994. Other past recipients have included Buddy Guy, Billy Joel, Joni Mitchell, Carlos Santana, Chet Atkins, James Taylor, Emmylou Harris, Randy Newman, John Mellencamp, Annie Lennox, Sting and Stevie Wonder.

As previously reported, Petty's third solo album, "Highway Companion," is slated for release this spring. Although there has been speculation that he is leaving Warner Bros. Records, his home since 1994, at deadline he is still signed to the label.

"It has a lot to say about time and the passage of time," Petty recently told Billboard of the Jeff Lynne-produced set. "It's not so much love songs, it's not going to be what anybody expects from me, I'm sure of that. But it's good music, it's really good music."