The Latin Grammy Trustees Award is an award presented annually by the Latin Recording Academy, the same organization that distributes the Latin Grammy Awards, to individuals "who have made significant contributions, other than performance, to Latin music during their careers". Recipients can include producers, songwriters, composers, record label executives, and journalists. Award recipients are honored during "Latin Grammy Week", a string of galas prior to the annual Latin Grammy Awards ceremony. Since its inception, the award has been presented to recipients originating from Argentina, Brazil, Chile, Colombia, Cuba, the Dominican Republic, Mexico, Puerto Rico, Spain, the United States, Uruguay, and Venezuela. The award was first presented to Mexican composer and musician Manuel Esperón. Since 2005, the Trustees Awards have been presented to more than one recipient. Pierre Cossette is the only recipient of the Latin Grammy Trustees Award to also receive the Grammy Trustees Award in 1995. The accolade, along with the Person of the Year and the Lifetime Achievement awards, were not presented in 2020 due to the COVID-19 pandemic.

The Latin Recording Academy Person of the Year is an award presented annually by the Latin Recording Academy, the same organization that distributes the Latin Grammy Awards, to commend musicians for their "artistic achievements in the Latin music industry as well as their humanitarian efforts". Award recipients are honored during "Latin Grammy Week", a string of galas just prior to the annual Latin Grammy Awards ceremony. Until 2023, the award was only presented to artists of Ibero-American heritage, when Laura Pausini became the first Italian artist to be presented with the honor.