Streisand is a nominee for best traditional pop vocal album for "Love Is The Answer," and she'll be performing on the live telecast. She'll be introduced by another music legend, her co-star in "A Star Is Born," Kris Kristofferson.
Streisand is also being honored on Friday by MusiCares, the Grammy's charitable foundation.
Last week, it was announced that Mick Jagger would be performing. It marks the first time Jagger has appeared on the Grammy stage.
Other performers include Eminem, Cee Lo Green, Gwyneth Paltrow, Arcade Fire and Justin Bieber.
The awards are set to air live on CBS from Los Angeles.