Before his late night talk show, Fallon was famous for his work on "Saturday Night Live."
The Young Leaders are honoring Fallon because of his success as a late-night television host and a committed supporter of numerous charitable causes.
"Jimmy Fallon represents the best of the Irish and the Young Leaders are so proud to have him as their honoree," Caitlin McCormick of the American Ireland Fund and the Young Leaders told IrishCentral.com
"Born in Brooklyn and raised in New York, Jimmy puts his own creative and hilarious spin on philanthropy, whether it be through his iTunes single “Car Wash for Peace” or his performance at the Stand Up to Cancer telethon," said Farrell.
"Not only is Jimmy involved with charitable projects new and established, he is one of the few young entertainers today who appears to have an emotional connection with each cause he supports. We are proud of him as Irish Americans and as philanthropists, and could not ask for a more suitable honoree for the 2010 Irish Spirit Award."
Fallon says he loved growing up Irish.
“It’s really, really great — I was very happy to be raised Irish,” says Fallon.
“We grew up totally having a party — we were the Irish family. Across the street from us we had a great Italian family. Between the both of us there’d be a party every weekend.”
Past honorees have included comedians Conan O'Brien and Denis Leary, CNBC's Margaret Brennan, and New York Giants Center Shaun O'Hara.
Fallon will receive his award on Thursday, March 11 at Cipriani Wall Street.
The event is held from 7 pm to 10 pm. There will be an open bar and d'oeuvres. Music will be provided by Celtic Cross.
Tickets start at $150 per person with multiple package options available.
Tickets can be purchased at http://www.irlfunds.org/events/store_nyc310.asp