The 38-year-old "Macbeth" actor will join the likes of Cate Blanchett, Johnny Depp, Brie Larson, Tom McCarthy and Saoirse Ronan, who will also receive the honour, reported Variety.
"Throughout his career, Michael Fassbender has brought to life riveting performances on the screen in films such as 'Hunger,' 'Shame,' '12 Years a Slave,' 'Inglorious Basterds' and 'Prometheus,'.
"In his latest film, 'Steve Jobs,' Fassbender delivers another stunning performance of subtlety and power, presenting the Apple co-founder as both a witty and engaging person and a conflicted Machiavellian," said Festival Chairman Harold Matzner.
Past International Star Award honorees include Javier Bardem and Helen Mirren.