Meat Loaf will receive the 2008 Classic Song Award at the upcoming Q Awards, for his epic 1979 hit "Bat Out Of Hell."

The veteran rocker will collect the award in person on Oct. 6 at the ceremony held in London's Grosvenor House Hotel.

"I am honored to receive this award and owe it all to the fans who think 'Bat Out Of Hell' is such an extraordinary piece of work that it has sustained its place in the charts for so long," he said in a statement.

Through the course of his career, the Grammy Award-winning artist broke several records for his lengthy chart appearances and sold over 70 million albums worldwide, according to his management.

U.K. melodic rock act Coldplay lead nominations for the Q Awards 2008 after returning this year with their album "Viva La Vida Or Death And All His Friends" (Parlophone). They are up for four awards. Also receiving multiple nods are The Ting Tings, Duffy and Vampire Weekend.

Q Radio, available online, via digital and satellite TV and DAB radio in London, will broadcast from the awards.