It was both Spears' recent climb back up the pop chart ladder and her scramble out of the hole of personal crisis that impressed the awards jury.
"The pop princess is back on her throne, better than ever before," the prize jury said on Tuesday while announcing its decision.
"The one-time teen idol has become a mature young woman who overcame the greatest crisis of her life with flying colors. Britney Spears achieved her triumph thanks to her iron discipline, her unique musical talent and her millions of fans, who remained loyal to the star even in her darkest hours."
Spears, 26, will collect her Bambi in the Pop International category at the prize ceremony in the northern German city of Offenburg. She will take to the stage to sing "Womanizer," a single from her album "Circus," which will be relased in Germany on Friday.
The Bambis are one of Germany's top media honours, having been awarded since 1948. A film award at the outset, today the awards go to a wide range of people in the entertainment industry as well as in politics, economics and sports.
Also on Thursday, the UK's Lewis Hamilton will receive a special Bambi for being the youngest ever Formula One world champion. US pop star Pink will provide entertainment with a performance of her new single "Sober."