The Goethe Institute bureau in Vilnius said the award was intended to honor people for their contribution to promoting German language and cultural exchange.
"Veisaitė is awarded with the Goethe Medal for her lifetime activities, which was the driving force of German-Lithuanian cultural exchange, for her creativity and political courage to say things that did not please everybody," reads the press release.
Along with Veisaitė, 84, other recipients of the medal will be Kazakh theater director Bolat Atabayev and Bosnian poet Dzhevad Karahasan. The awards ceremony will take place in Weimar, Germany, on 28 August.
Veisaitė has published more than 200 articles in Lithuanian and foreign press, as well as co-authored a number of textbooks.
The Goethe Institute notes that Veisaitė still lives in Lithuania where she was persecuted by the Nazis as a Jew during World War II and has always supported reconciliation and cultural dialogue with Germany.