Sylvester Stallone will be handed the Montecito Award at the Santa Barbara Film Festival.
The 'Creed' star is set to be honoured at the annual ceremony, which takes place on February 9 at the Arlington Theatre in Santa Barbara, California.
Santa Barbara International Film Festival's executive director Roger Durling said: "Sylvester Stallone's performance in 'Creed' has reminded us of what a true talent he is and what a joy it is to share in his successes as the many beloved characters he has created ...
"He is a true legend in our field, and it is our privilege to present him with the Montecito Award, and to continue to honor his legacy."
It has been a great awards season so far for the 69-year-old actor, who was so shocked with his win for Best Performance by an Actor in a Supporting Role in a Motion Picture at the Golden Globes that he didn't even realise he had been given a standing ovation.
He said at the time: "You're kidding! I did not expect to win at all. I was promising myself I would be very aware the whole time, but it proves I was not aware.
"Just the fact that these incredible people were applauding, it reminds you that in this life, it's never really over until it's over and you should never give up trying, which is a great message."
Previous winners of the Montecito Award include Jennifer Aniston, Kate Winslet and Naomi Watts.