Cruise will be given the award on April 25 at CinemaCon, the National Association of Theater Owners' annual convention in Las Vegas.
The Pioneer of the Year award is given to a member of the motion picture community to honour professional leadership, service, and commitment to philanthropy.
Cruise is the first actor to receive the honour, as the award has traditionally been bestowed to industry executives, reported Deadline.
"We are delighted that Tom will be receiving this well- deserved honour. His contributions to the film industry as both an actor and producer, including his tremendous support of the exhibition community, has made him a true pioneer in his field.
Past Pioneer of the Year honorees include Dick Cook, Cecil B DeMille, Michael D Eisner, Jim Gianopulos, Alan Horn, Jeffrey Katzenberg, Kathleen Kennedy, Donna Langley, Sherry Lansing, Frank G Mancuso, Sumner Redstone, Terry Semel, Tom Sherak, Jack Valenti, Jack Warner, Darryl F Zanuck and last years honourer, Cheryl Boone Isaacs.
Cruise is currently filming the sixth installment in the "Mission: Impossible" franchise for release on July 27, 2018, for Paramount Pictures, followed by "Top Gun: Maverick" on July 12, 2019.
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