Edwards, founder and chairman of Outside Organisation, was inducted by Roger Daltrey, lead singer of The Who, on Wednesday evening at the PRWeek Awards.
The annual event at Grosvenor House in London was attended by 1,000 industry leaders from consultancies and clients.
The Who was one of Edwards' first clients when he worked for music PR Keith Altham in the 1970s. Speaking at the induction, Daltrey said of Edwards: "From sleeping on the couch in the office when he started work for the great Keith Altham, Alan's enthusiasm and dedication to the job hasn't changed in 40 years. He's the guv'nor."
Edwards set up his own consultancy, Modern Publicity, in 1981. One of his first accounts was The Rolling Stones. In the early 1990s Edwards worked for such talent as Janet Jackson and Prince before creating Outside Organisation in 1995, where David Bowie became a longstanding client.
Edwards continues to chair Outside, which has worked with the Beckhams, the late Amy Winehouse and Naomi Campbell. Earlier this year, with new CEO Dominic Mohan, Edwards handled media around the One Love Manchester benefit gig after the terrorist atrocity in the city.
In 2015 Edwards ran a month-long series of lectures on PR and the media at London's V&A museum and last year presented a BBC Four documentary on the music industry.
PRWeek's editor-in-chief Danny Rogers said: "Alan defined entertainment PR in the modern era. He is consistently proud of being in PR and of the compelling stories he narrates for his clients. He forms longstanding relationships with high profile clients and media but, in person, remains relaxed and engaging. All these attributes only shine more brightly in today’s relentless digital age."
Edwards said: "PR people are storytellers but this is one narrative that I could never have envisaged. I’m proud and excited to receive this award in equal measure, so thank you to Danny, PRWeek, and all the clients, colleagues, clients and journalists I've worked with across the years."