She has sold millions of records and dominated the charts for over 20 years, and now Mariah Carey is receiving the ultimate honour.

The Hero hitmaker, who is one of the most successful female artists of all time, will be presented with a star on the Hollywood Walk of Fame on 5 August.

Taking to Instagram, Carey announced the news to her 2.3 million followers by sharing a bright pink, glittery star that was emblazoned with her name, and thanked fans for their continued support.

"Super excited and feeling so humbled about my star on the Hollywood Walk of Fame. Thank you so much to the fans for making this happen for me. #walkoffame #hollywood #lambily" the caption read.

Her star will be the 2,556th star in the recording category on the Walk of Fame. All the Hollywood Walk of Fame stars, located on in the sidewalks along 15 blocks of Hollywood Boulevard, are made of terrazzo and brass and each cost approximately $30,000 (£19,200).

Guest speakers at the unveiling ceremony will include the 45-year-old star's long-time collaborator, producer Antonio "LA" Reid, Precious director Lee Daniels, and her close friend, film-maker Brett Ratner.

Although it is not yet known whether her billionaire boyfriend James Packer will make an appearance, there is a good chance he will want to share her special moment since the 47-year-old businessman is already talking marriage.

"A wedding isn't something Mariah would have considered a month ago, but now she's head over heels for James and wants to marry him," a source recently told In Touch Weekly. "It's been a whirlwind. Her head is spinning from the light-speed love affair."

The impressive accolade is not the only news that has given the mother-of-two cause for celebration in recent days.

Earlier in July, TMZ reported Carey is expected to earn $500,000 to take the stage in Tel Aviv in August. The site claims the forthcoming gig was inspired by Packer, who took the singer to the country back in June and is reportedly a good friend of Israeli Prime Minister Benjamin Netanyahu.

In the meantime, the powerhouse vocalist is busy with her lucrative performances at Caesars Palace Colosseum in Las Vegas.