The actor will receive the award at the Arlington Theater in Santa Barbara, California, on February 7, reported Variety.
"It's thrilling to honour Michael B Jordan this year for the emboldened way he's shown us what it means to be a movie star for the 21st century mixing sensitivity with swagger, choosing important material that remains full of integrity yet becomes world phenomenon, and forging a cinematic partnership with visionary director Ryan Coogler," said Roger Durling, executive director of the festival.
The Cinema Vanguard Award honours actors who have forged their path, taking artistic risks and making a significant and unique contribution to cinema.
Previous recipients include Willem DaFoe, Casey Affleck, Michelle Williams, Rooney Mara, Eddie Redmayne, Felicity Jones, Martin Scorsese, Leonardo DiCaprio, Amy Adams, Jean Dujardin, Berenice Bejo, Nicole Kidman, Peter Sarsgaard, Christoph Waltz, Vera Farmiga, Kristin Scott Thomas, Stanley Tucci, and Ryan Gosling.
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