The director, who helmed critical-acclaimed films such as "The Queen", "The Grifters" and most recently "Florence Foster Jenkins", will be felicitated with the Jaeger-LeCoultre Glory To The Filmmaker award at a ceremony held on September 3, reported Deadline.
Frears latest title "Victoria & Abdul" will also have a world premiere at the festival.
The movie is set in 1887 and is based on the true story about the friendship between a young clerk from India and Queen Victoria.
"Prolific and unpredictable, eclectic and provocative, Stephen Frears seems to challenge the very idea of a monolithic definition of his cinema. Along with Ken Loach and Mike Leigh, he is one of the most vibrant and representative exponents of contemporary British cinema," said Venice fest director Alberto Barbera.
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