The American Film Institute has announced that it will give its most prestigious prize to the iconic 69-year-old comedy actor in June 2015, reported Deadline.
A gala will be held in Martin's honour in Los Angeles, at which he will be formally announced as the 43rd recipient of the AFI Life Achievement Award.
The prize was first given away in 1973 to filmmaker John Ford, best known for directing the Westerns 'The Searchers' and 'Stagecoach'.
Jane Fonda, Mel Brooks, Shirley MacLaine and Morgan Freeman are the four most recent recipients of the AFI Life Achievement Award.
His memorable films include 'The Jerk', 'Three Amigos', 'Planes', 'Trains and Automobiles', 'Dirty Rotten Scoundrels' and 'Father of the Bride'.
The actor has also been lauded for his frequent guest appearances on Saturday Night Live, dating back to the 1970s.
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