Diane Keaton will receive the American Film Institute's Life Achievement Award next year.
The 70-year-old actress - who received an Oscar for her role in 'Annie Hall' and was nominated for her work on 'Marvin's Room', 'Reds' and 'Something's Gotta Give' - will accept the AFI's highest honour at a special gala that will take place in Los Angeles on June 8 2017.
Sir Howard Stringer, the chair of the AFRI Board of Trustees, said in a statement: "Diane Keaton is one of the most beloved leading ladies of American film.
"Peerless in her mastery of both comedy and drama, she has won the world's heart time and again by creating characters of both great strength and vulnerability. Her career as a director and producer is even further evidence of her passion for the art form and her seemingly boundless talents."
Past recipients of the accolade, which was established in 1973, include Steve Martin - who Diane serenaded when he picked up the honour last year - Jane Fonda, Mel Brooks and Shirley MacLaine.
The Life Achievement Award is presented to an individual "whose talent has in a fundamental way advanced the film art; whose accomplishment has been acknowledged by scholars, critics, professional peers and the general public; and whose work has stood the test of time".
Diane worked with legendary filmmaker Woody Allen on 'Annie Hall' and a number of other movies and previously described being on set with him as a "privilege".
She said: "He gave me everything.
"It was a privilege to be in those films with him. I've never seen anybody more disciplined."
Diane also revealed what she learned from working with the New York-born movie star.
She added: "For him, work is an art form. Work really is the answer to so many problems, and it's a form of play, too, that you take very seriously and keep trying to expand.
"That's something I learned from Woody."