The 2006 Bafta Film Awards will feature a new prize given to the year's most promising young star.
McGregor (l) and Blanchett (r) will sit on the 12-strong panel
The Orange Rising Star Award, said a Bafta spokesman, would "honour a young actor or actress who has demonstrated exceptional talent and ambition".
A panel including Ewan McGregor, Cate Blanchett and Sir Alan Parker will select a shortlist of five nominees, to be revealed on 9 January next year.
The recipient of the prize will then be chosen by a public vote.
Nominees - who can be of any nationality - must feature in a film eligible for the 2006 British Academy Awards, to be announced on 19 February 2006.
The prize replaces the Film of the Year Award, the only other Bafta film award decided by members of the public.
The prize has been created in honour of the casting director Mary Selway, who died in April 2004.
"This exciting award will shine an early spotlight on the talented young actors and actresses who are the future of our industry," said Bafta chairman Duncan Kenworthy.