Subban will receive the award on Thursday night when the Canadiens host the Buffalo Sabres.
The trophy is awarded annually to the Canadiens player who is most committed to the community.
“I’m proud to walk in the footsteps of my idol Jean Believau by giving back to the community,” Subban said. “I feel privileged to be able to help transform the lives of sick children and their families.”
Subban made a $10 million pledge over a seven-year period to the Montreal Children’s Hospital Foundation in September 2015.
The 26-year-old Toronto native has since run several fundraising campaigns that have led to $820,000 worth of donations to the Montreal Children’s Hospital this year. He's also a regular visitor to the hospital and serves as a member of the board of directors for the foundation.
The trophy comes with a $25,000 donation, which Subban has redirected to the foundation.
Previous winners of the Jean Beliveau trophy include goaltender Carey Price and former captains Brian Gionta and Saku Koivu.