The Wolf Foundation said that McCartney “is one of the greatest songwriters of all time.”
Hungarian Adam Fischer is also being recognized for music. The foundation called him “an inspirational conductor and eloquent defender of human rights.”
On Monday the foundation announced its winners for 2018, with laureates in the fields of chemistry, agriculture, mathematics and physics.
Each year the Wolf Foundation awards $100,000 prizes in five fields. About three dozen winners have gone on to receive Nobel prizes.
An organizer said the foundation had notified McCartney’s representatives. It was not immediately known if the former Beatle will appear in Israel for the award ceremony in May.
