The 82-year-old 'Tammy and the Bachelor' star will be honoured at the Actors Guild ceremony on January 25 next year, reported BBC.
The award is the highest honour bestowed by the Actors Guild and is given out each year to an individual who represents 'the highest ideals of the acting profession'.
"She is a tremendously talented performer with a diverse body of screen and stage work.
"Her generous spirit and unforgettable performances have entertained audiences across the globe, moving us all from laughter to tears and back again," said Ken Howard, president of Screen Actors Guild.