Lead singer Chris Martin will accept the award on his band's behalf at the ceremony to be held Oct 21 at the Beverly Hilton Hotel in Beverly Hills. "Atlas" is the first song the band has ever written and performed for a motion picture.
"The Hollywood Film Awards is thrilled to present the Hollywood song award to a band as globally respected and prolific as Coldplay," Carlos de Abreu, founder and executive producer Hollywood Film Awards, said in a statement.
"They continue to build their legacy and, with 'Atlas' marking the first time they have recorded for a motion picture, we cannot think of an artist better deserving of this honour," Abreu added.
The 2013 Hollywood Film Awards has also announced that it will be honouring producer Jerry Weintraub with the Hollywood legend award and actor Harrison Ford with this year's Hollywood career achievement award.
In addition, actor Matthew McConaughey will get Hollywood actor award, while Sandra Bullock will receive Hollywood actress award.
Jake Gyllenhaal will get Hollywood supporting actor award and Julia Roberts with Hollywood supporting actress award, and the cast of "August: Osage County" with Hollywood ensemble award.
The Hollywood Film Awards honours actors, filmmakers, musicians, and upcoming talent. It starts off the film awards season with the biggest stars and top industry executives in attendance.