On Thursday, Usha revealed the news on Twitter and said: "IAAF Veteran Pin for the long and meritorious service to the cause of World Athletics! Thank you IAAF for this incredible honour."
Along with the tweet, she also posted the picture of the letter by IAAF CEO Jon Ridgeon congratulating her.
The 55-year-old has been invited to attend the award ceremony which will take place during the opening ceremony of the 52nd IAAF Congress on September 24 in Doha.
Usha is known for her stellar performance at the 1984 Los Angeles Olympics, where she missed the bronze medal in the 400m hurdles finals by 1/100 second.
The 'Payyoli Express' was awarded with the prestigious Arjuna Award in 1983. Two years later in 1985, she was conferred with the Padma Shri Award.