This year’s Genesis Prize, dubbed the ‘’Jewish Nobel’’, has been awarded to Israeli-American violinist Itzhak Perlman for his accomplishments as a musician, teacher and advocate for the disabled.

It is the third time that the $1 million prize is awarded. Perlman joins former New York City Mayor Michael Bloomberg and actor-director Michael Douglas.

Established in 2012 by a consortium of Russian Jewish philanthropists, the Genesis Prize is given each year to an individual who has achieved professional success, contributed to humanity and shown a strong commitment to Jewish causes and the State of Israel.

70-year-old Perlman said he was "humbled" to be recognized not only for his personal accomplishments, but also his commitment to his Jewish identity.

"I have always been very proud of my Jewish heritage, which has greatly influenced my music, my worldview, and my work as an advocate for individuals whom society often leaves behind," he said in a statement issued by the prize organizers.

Born in Tel Aviv in 1945, Perlman has achieved a level of celebrity rarely seen in the classical music world. Identified as a musical prodigy from a young age, he studied at New York’s Juilliard School. He has won 16 Grammy Awards, played for multiple heads of state and appeared in commercials and television shows.

Perlman also performed the haunting violin solo on the “Schindler’s List” soundtrack, which won both a Grammy and an Oscar.

In November, Perlman received the Presidential Medal of Freedom from President Barack Obama.

Treated for polio as a child, Perlman, who walks with crutches, has also been a vocal advocate for the disabled.

Perlman intends to use his prize money for projects to assist individuals with disabilities and to develop young musicians of special talent, prize organizers said.

"Itzhak Perlman is the embodiment of everything an ideal Genesis Prize Laureate should be," said Stan Polovets, chairman and co-founder of the prize.

He said Perlman's music "brings joy to millions of people," and that Perlman has been "an incredible source of inspiration" for people with special needs and "given back to society" with his teaching and advocacy work.

Israeli Prime Minister Benjamin Netanyahu is slated to present the award to Perlman at a cereùony in Jerusalem in June 2016.