The 46-year-old actor followed in the footsteps of previous winners Robert Downey Jr, Julia Roberts and Al Pacino when he was presented with the award at an event in Beverly Hills, California, reported E! online.
"It is really nice to be asked to be honoured like this. It's kind of bizarre. I feel grateful but also unworthy of the whole thing," Stiller said.
The star-studded event was attended by Stiller's actress wife, Christine Taylor, actress Jennifer Aniston and her partner Justin Theroux, as well as Will Ferrell and Jack Black.