Pacino will be the 35th recipient of the award
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Actor Al Pacino is to receive the American Film Institute's highest honour, its Lifetime Achievement award.
The award will be presented to Pacino, 66, at a tribute dinner in Los Angeles on 7 June, 2007.
Sir Howard Stringer, chairman of the AFI board of trustees, described Pacino as "an icon of American film".
Pacino is still best known for his role in the Godfather movies. He won the best actor Oscar For Scent Of A Woman in 1993.
In the same year, he was also nominated for best supporting actor for his role in Glengarry Glen Ross.
Previous recipients of the AFI Lifetime Achievement Award, now in its 35th year, include Sean Connery, Martin Scorcese, Elizabeth Taylor and Steven Spielberg.
Pacino has won numerous acting accolades during his career, which spans over 40 years.
He has been nominated for an Academy Award eight times and was also the recipient of the Golden Globes' prestigious Cecil B DeMille career achievement award in 2001.
His other films include Donnie Brasko, Carlito's Way, Frankie and Johnny, Dick Tracy and Scarface.