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4 year oldBryant, an 18-time All-Star, died with his daughter Gianna and seven others in a helicopter crash last month, aged 41.
NBA commissioner Adam Silver said Bryant's death was "unspeakable" and the league was keen to "honour" him.
"Kobe Bryant is synonymous with NBA All-Star and embodies the spirit of this global celebration of our game," Silver said.
"He always relished the opportunity to compete with the best of the best and perform at the highest level for millions of fans around the world."
The Kobe Bryant MVP Award 2020 will be presented to the most valuable player at the end of the NBA All-Star game between Team Giannis Antetokounmpo and Team LeBron James on Sunday at Chicago's United Center.
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