His daughter and actress Sonakshi Sinha and actor Anil Kapoor jointly presented the award to Shatrughan, who has acted in more than 200 Hindi movies besides Punjabi and Bangla cinema.
Mayor of Tampa Bay Bob Buckhorm joined them in bestowing award to the 67-year-old actor, who is also known as "Shotgun Sinha".
While introducing her father, Sonakshi said, "I am introducing someone who is a special person in my life and he will always remain so. He is powerful, loving, honest, strong, caring and genuine.
"I am thankful to IIFA and the audience for their love and appreciation. With all humility I accept this award. I feel the lifetime achievement award means there are still miles for me to go ahead. I am grateful to my wife for her continuous support, Sonakshi is the daughter of the family and pride of the masses. I dedicate this award to the people of Patna, Bihar my hometown," Shatrughan said.
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The actor-turned-politician is contesting the Lok Sabha elections for BJP from Patna Sahib seat in Bihar.
Shatrughan feels that India is eagerly waiting for a 'Dabangg' (powerful) leader this time.