A 12-year-old from Worcester and a five-year-old from Staffordshire will be honoured alongside some of the countries bravest children at a star studded ceremony in London.
McAyla Johnston, aged 12, will be presented with the Women's Own Children of Courage Sheer Courage Award at Westminster Abbey in front of MPs and celebrities.
She won the Sheer Courage Award for relearning to walk, talk, eat and write after being knocked over by a car and being left with brain damage.
McAyla was flown to Birmingham Children's Hospital by air ambulance after the accident, where her parents were told that her chances of recovery were slim.
Miraculously she pulled through after two weeks of being kept alive by machines. However, because of the brain damage caused by her head injuries, she had to relearn how to walk, read, write, dress, eat and drink.
Much to the astonishment of medical staff, she now walks with just the aid of a stick and has started back at school part time.
She has also campaigned for a pedestrian crossing to be installed at the accident black spot where she was knocked down. It was finally installed in August.
McAyla said: "I don't want any of my friends or their families to go through what I have been through. There should always be a safe place for people to cross busy roads."
Jacobi Caudwell will be presented with the Women's Own Children of Courage Outstanding Bravery Award after helping to save his grandfather John when a walk on the Bodafon Mountain in Anglesey resulted in the 60-year-old falling down a disused well and breaking his lower left leg and ankle.
The five-year-old trekked for a mile across a heath, over walls and over a hill to reach John's nearest neighbours to get help.
John, 60, a retired GP, of Willoughbridge near Market Drayton, Shropshire, said: "He was very brave. He is bright, thoughtful and mature for his years."
John was airlifted to hospital with Jacobi remaining calm and brave throughout.
Jacobi and McAyla will receive their awards with the other winners at the London ceremony which will be presented by singer Peter Andre.
Other celebrities attending include stars of Strictly Come Dancing, Coronation Street, EastEnders, X Factor and I'm A Celebrity, and Ken Livingstone, Esther Rantzen and Tara Palmer Tomkinson.