The couple, who raise two children together, has collaborated on movies including "Alice in Wonderland" and "Sweeney Todd: The Demon Barber of Fleet Street" and they have both been named as recipients of this year's (12) BFI Fellowship awards in recognition of their contribution to the film industry, reported Daily Star.
The prizes will be presented to the pair as part of the 56th BFI London Film Festival, which kicks off with a screening of Burton's new movie "Frankenweenie".
"I feel very touched and grateful to the BFI for this tremendous honour. It means more than I can put into words to receive the BFI Fellowship and to be included alongside the great directors who have received it before me," said Burton.
Bonham Carter, 46, added, "I am somewhat bewildered and not sure that I am deserving of such an honour as a Fellowship from the BFI, but shall accept it with deep gratitude."
The couple will be handed the prizes during the 2012 Festival Awards gala on October 20.