The 80-year-old actor said he was "beyond honoured" to accept the recognition and was grateful to the SAGs for the award.
"These moments in life usually call for an entire litany of thank yous. I can't do that because I don't know all of your names, so I won't try. This is beyond honour, this is a place in history. I want to say thanks to SAGs for this enormous honour.
He was presented the award by Rita Moreno who first worked together on the 1971 educational children's series "The Electric Company", Variety reported.
The actor, also a producer and a narrator with a baritone, has been in the industry for over five decades who finally broke into the film industry at the age of 50.
Freeman has an SAG Award, two Golden Globes, and an Oscar to his credit.
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