Veteran rock icon Neil Young has finally won his first Grammy Award, after more that 40 years in the game.

The Canadian singer-songwriter took home a Best Boxed or Special Limited Edition Package for "Neil Young Archives Vol. I (1963-1972)" and oft-delayed archives set.

He was also celebrated as the Recording Academy's MusiCares Person of the Year award for his work in philanthropy. He's up against other feted songwriters John Fogerty, Prince, Bruce Springsteen and Bob Dylan for Best Solo Rock Vocal Performance, to be announced during the main ceremony tonight (Jan. 31), 8-11 p.m.

Young -- a legend best known for tracks like "Heart of Gold" and "Hey Hey, My My (Into the Black)" -- has been nominated for 17 Grammy Awards total since 1989.