The 64-year-old actress will be presented with the award, the highest the Academy can bestow, at this year's Television Awards ceremony to be held on May 18, reported Digital Spy.
"I am honoured to receive this prestigious award and extremely shocked. I've worked with some brilliant people over the years and have been very fortunate to have had the opportunities to work on such a variety of projects," said Walters, who played the role of Molly Weasly in the 'Harry Potter' series.
"She has the innate ability to draw the viewer in across any genre, captivating and entertaining with every performance. Julie is thoroughly deserving of the Fellowship, the highest honour the Academy can bestow."
Walters has won seven BAFTAs, two International Emmys and two Oscar nominations.
Recent recipients of the Fellowship award from the world of television include Michael Palin, Lord Bragg, and Dawn French and Jennifer Saunders.