Jason Aldean to Pay Tribute to Toby Keith at the 2024 ACM Awards: 'My Friend'

The 2024 ACM Awards will feature a very special performance.

On May 14, it was revealed that Jason Aldean will be paying tribute to late country star Toby Keith — who died in February at at the age of 62 following a stomach cancer diagnosis — at the country music awards show later this week.

In an Instagram Story on Tuesday, the "Try That in a Small Town" singer, 47, said he was "honored" to be performing the tribute to the late "American Soldier" artist.

"Honored to pay tribute to my friend, the one and only @tobykeith with a special performance of "Should've Been a Cowboy" at the @acmawards. Join me as we celebrate his legacy and the mark he left on country music," Aldean wrote over an image of Keith promoting the ACM Awards.

This year's awards show will feature Post Malone's ACMs debut as well as three different duets featuring some of country music’s biggest stars.

Blake Shelton and Gwen Stefani are set to team up for a performance, while Kelsea Ballerini, who's up for female artist and album of the year, will take the stage alongside “Stick Season” singer Noah Kahan.

Also performing are new male artist of the year nominee Nate Smith and Avril Lavigne, as well as 2022 new male artist of the year Parker McCollum. 

Kane Brown, Jelly Roll, Cody Johnson, Miranda Lambert, Thomas Rhett, Chris Stapleton, Lainey Wilson and host Reba McEntire will also take the stage.

"I love live television. I get to sing a song, see what everybody else is promoting, their new material, but basically just to get to see my old friends and meet new people," McEntire recently told PEOPLE ahead of the ceremony. "I hope everyone tunes in and watches."

Never miss a story — sign up for PEOPLE's free daily newsletter to stay up-to-date on the best of what PEOPLE has to offer​​, from celebrity news to compelling human interest stories. 

Leading the 2024 nominations is Luke Combs with eight nods, including entertainer of the year, male artist of the year, album of the year, song of the year, single of the year and music event of the year alongside Riley Green for "Different 'Round Here."

Trailing behind Combs are Megan Moroney and Morgan Wallen with six apiece, while Johnson, Stapleton and Wilson follow with five each.

The 2024 Academy of Country Music Awards, hosted by McEntire, will stream live on Prime Video from Ford Center at The Star in Texas on Thursday, May 16.