The BCCI has recommended India opener Shikhar Dhawan, and women's team player Smriti Mandhana for the Arjuna Award said the Board's Acting Secretary Amitabh Chaudhary.
32-year-old Dhawan, currently playing for Sunrisers Hyderabad in IPL, has been a regular across all three formats for India.
21-year-old Mandhana played a key role in India reaching ICC Women's World Cup final in England last year.
Smriti reached fourth position in ICC women's rankings
Ever since a debut Test hundred against Australia in 2013, Shikhar Dhawan has been a crucial cog in the Indian batting line-up.
Smriti Mandhana's prolific run this year has seen her grab a career-high fourth position in the ICC women's rankings.
In nine innings, the young woman cricketer amassed 531 runs, including five half-centuries, in the recent home series against England.
Dinesh Karthik, Hardik Pandya to represent India in World-XI team
Meanwhile, BCCI also announced Hardik Pandya and Dinesh Karthik as India's representatives in the World XI team that will play West Indies in a charity Twenty20 match at the Lord's in London on May 31.
West Indies, the reigning ICC World Twenty20 champions, will be led by Carlos Brathwaite; the side includes top names like Chris Gayle, Marlon Samuels, Samuel Badree, and Andre Russell.
Proceeds from charity T20 to be used for rebuilding grounds
Proceeds from the charity game will be used to rebuild and renovate five grounds damaged by Hurricanes Irma and Maria in the Caribbean islands.
They include the Ronald Webster Park in Anguilla, the Sir Viv Richards Stadium in Antigua, the Windsor Park Stadium in Dominica, the AO Shirley Recreation Ground in the British Virgin Islands, and the Carib Lumber Ball Park in St. Maarten.