Rashford has made headlines for the right reasons this year, working to campaign for free school meals for underprivileged children in the UK.
While Rashford is ineligible to win the main Sports Personality of the Year award based on his work, a special award will be created for him.
Director of BBC Sport Barbara Slater said: "Marcus' endeavour to give a voice to those who find themselves in a situation that he too is familiar with has been greatly admired and the panel wanted to ensure he was recognised for that.
"In a year that has been challenging for everyone, but particularly vulnerable families, he has gone above and beyond to transcend his sport and make a real difference.
"This award is a tribute to a remarkable young man."