Spencer and his wife Karen will honour 20 young leaders around the world who have participated in charitable act's in the late royal's name. The Diana Award Charity fundraising gala will take place in June (17) at the family's Northamptonshire, England home, Althorp House, where the tragic royal is buried.

In addition to the gala, an exhibition named Walking in Her Shoes will also honour the winners of the Legacy Awards.

"As her brother, it's just so wonderful that there are still so many positive things stemming from her memory," Spencer told People magazine last year (16). "The Diana Award to me is the absolute crux of it all because it's taking it through the younger generation."

"Diana, Princess of Wales was known for her compassion, kindness and service to others," the charity's CEO, Tessy Ojo, said on Thursday (12Jan17). "We will recognise exceptional young people from across the world who not only demonstrate these characteristics and values but embody them."

Princess Diana's sons, Prince William and Prince Harry, will reportedly participate in other events to honour their mum.

Prince Harry recently opened up about her death in a 1997 car crash, revealing he is still struggling to come to terms with the loss.

"I never really dealt with what had actually happened, so there was a lot of buried emotion and I still didn't even want to think about it," he said in ITV documentary, Prince Harry in Africa.