The 81-year-old 'Piya Tu Ab Toh Aja' hitmaker was presented with the prestigious award for her decades of dedication to Indian cinema last night during the opening ceremony of the festival.
After receiving the award, Bhosle treated the audience to an impromptu performance of her most memorable renditions.
"Receiving DIFF award from Sheikh Mansour Bin Mohammed Al Maktoum," Bhosle tweeted.
The octogenarian singer has recorded more than 12,000 songs and is known for her versatility as a singer be it folk songs, Indian classical music, pop songs, ghazals and bhajans.
El-Sherif and Bhosle joined previous winners including Martin Sheen, Omar Sharif, Faten Hamamah, Adel Imam, Jameel Rateb, Sabah, Morgan Freeman, Sean Penn, Amitabh Bachchan, Shah Rukh Khan, Daoud Abdel Sayed, Youssef Chahine, Rachid Bouchareb, Yash Chopra, Subhash Ghai among others.
The eight day film festival will come to an end on December 17.