Michael Douglas to receive George Eastman Award in May

Veteran actor Michael Douglas is set to be honoured with a top prize for his contributions to the film industry.

The 'Wall Street' star has been unveiled as the 2015 recipient of the George Eastman Award, named after the photography innovator who founded the Eastman Kodak Company, commonly known as Kodak, reported Contactmusic.

The 7o-year-old Oscar-winning actor will be presented with the accolade at a ceremony in New York on May 14.

Previous honourees include Charlie Chaplin, Gregory Peck, Martin Scorsese, Meryl Streep and Richard Gere.