Field, the founder of Entercom, the Bala Cynwyd-based company that owns KYW Newsradio, said the honor would not be possible without the support of his wife Marie.
The Joseph and Marie Field Foundation has been involved in a number of charitable causes in the city, including child welfare, the arts, and humanitarian efforts.
Recently he gave $10 million to his alma mater, Central High School, for the construction of a performing arts center.
READ: Students in Central High School's 277th graduating class look to the future
Field said the honor is twice as rewarding because it's named after his lifelong friend, Edward R. Becker, a highly respected former chief judge of the U.S. Court of Appeals for the Third Circuit.
Field reflected back to advice on being a good citizen that he was given on his first day of classes at Central High.
"He said, 'We enter to learn, and we go forth to serve.' That has been my marching orders ever since, and I think if you follow that mantra you'll be a good citizen," he said.
Past Becker Award winners include Ed and Midge Rendell, and Supreme Court Justice Samuel Alito.