The Blackpool Medal will be presented to the families of former council leader Peter Callow, former long-standing councillor Lily Henderson and boxing legend Brian London.
It was agreed by Blackpool Council last year to bestow the honours but the presentations, which will be held at the Town Hall, were delayed until Covid restrictions had been lifted.
Blackpool Mayor Coun Amy Cross will make the presentations.
Peter Callow, who died in November 2020 , aged 81, was council leader when the decision was taken to buy the Tower and Winter Gardens, bringing them into public ownership and sparking new investment.
Lily Henderson, who died in December 2020, aged 94, was the oldest councillor in the country to retain her seat when she was re-elected in Highfield ward at the May 2019 local elections, aged 92.
Brian London, who died in June 2021, aged 87, was the British and Commonwealth heavyweight champion from 1958 to 1959 and famously fought Muhammad Ali in 1966 for the world title.
Previous recipients of the Blackpool Medal are paralympian Shelley Woods in 2008, Blackpool Football Club in 2010, and former councillor Jim Houldsworth in 2012.