Clinton and Winfrey are among the 16 recipients of The Presidential Medal of Freedom, presented to individuals who have made especially meritorious contributions to the security or national interests of the US, to world peace, or to cultural or other significant public or private endeavours.
The awards will be presented at the White House later this year.
"The Presidential Medal of Freedom goes to men and women who have dedicated their own lives to enriching ours.
"It will be my honour to present them with a token of our nation's gratitude," he said.
This year marks the 50th Anniversary of the Executive Order signed by President John F Kennedy establishing the Presidential Medal of Freedom, as well as the first ceremony bestowing the honour on an inaugural class of 31 recipients.
Since that time, more than 500 exceptional individuals from all corners of society have been awarded the medal.
Dean Smith, head coach of the University of North Carolina basketball team from 1961 to 1997; Gloria Steinem, a renowned writer and activist for women's equality; Cordy Tindell "C T" Vivian, a distinguished minister, author, and organiser; and Patricia Wald, one of the most respected appellate judges of her generation are also on the list.
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