The stars were presented with the honour at the American Society of Composers, Authors and Publishers' (ASCAP) 28th Rhythm & Soul Music Awards, which recognise the songwriters behind the year's most performed songs, at the city's Beverly Wilshire Hotel.
The pair was also honoured along with Beyonce for their work on her 2014 hit Drunk in Love, claiming the Top Hip Hop/R&B Song award, and Timbaland accepted the award on the absent stars' behalf, saying, "Music isn't about hating but congratulating. We've got to join together. All the young artists need to work together, not against each other, and make magic."
Former Fugees star Lauryn Hill, who performed at the event, was feted with the Golden Note Award in recognition of her lengthy career.
Accepting the award, she said, "Being creative has to do with having space. I've always had family first and a support team to help me clear the road."