Ferrari's Formula 1 driver Felipe Massa will receive this year's Lorenzo Bandini Trophy, which was created in 1992 in memory of the late Italian driver who was killed while racing for Ferrari in 1967.
The trophy will be awarded in a ceremony here on May 6.
Bandini's father was from this town near Ravenna. The race driver, who was born in Libya, moved here at the age of three after the outbreak of world War II.
Bandini began racing in 1957 and got his first break the following year when his father-in-law, a garage owner, lent him a Lancia to compete in the classic Millle Miglia (1000 Miles) race.
He won the race for his class and then dedicated himself to racing, driving first a Volpini Formula Junior car and later a Cooper-Maserati, in which he placed third in the 1961 non-championship Pau Grand Prix behind Jim Clark and Jo Bonnier.
The same year he won the Pescara Four Hours with Giorgio Scarlatti in a Ferrari 250TR and in 1962 Enzo Ferrari hired him to drove for the Italian team in both sports car races and Formula 1 Grand Prix.
At Ferrari he was number two driver behind John Surtees, although he did win the 1964 Austrian Grand Prix.
In 1966, Surtees left Ferrari and Bandini became the team's first driver but failed to bring home any victories.
During the 1967 Monaco Grand Prix he crashed in the chicane and his car burst into flames.
Bandini died three days later from the injuries and burns he sustained in the crash.
Ferrari did not hire another Italian driver until Michele Alboreto in 1984.
Massa joined Ferrari first as a test driver and in 2006 became second driver behind seven-time Formula 1 world champion Michael Schumacher of Germany.
Schumacher retired from racing at the end of last season and the Brazilian driver was joined on the team by Finland's Kimi Raikkonen.