Jane Fonda is set to receive the SAG Life Achievement Award.
The 86-year-old actress will be presented with the prestigious accolade at the 31st SAG Awards on February 23, with the Hollywood icon revealing that she feels "deeply honoured and humbled" by the recognition.
She said in a statement: "I have been working in this industry for almost the entirety of my life and there’s no honour like the one bestowed on you by your peers.
"SAG-AFTRA works tirelessly to protect the working actor and to ensure that union members are being treated equitably in all areas, and I am proud to be a member as we continue to work to protect generations of performers to come."
SAG-AFTRA president Fran Drescher has hailed the actress as a "trailblazer and an extraordinary talent".
Fran also observed that the 'Coming Home' star is "a dynamic force who has shaped the landscape of entertainment, advocacy and culture with unwavering passion".
She added: "We honour Jane not only for her artistic brilliance but for the profound legacy of activism and empowerment she has created. Her fearless honesty has been an inspiration to me and many others in our industry."
Barbra Streisand received the SAG Life Achievement Award earlier this year, and she previously explained why the accolade is "especially meaningful" to her.
The 82-year-old actress said in a statement: "Ever since I was a young girl sitting in the Loew's Kings Theatre in Brooklyn, I dreamed of being one of those actresses I saw on the screen.
"The movies were a portal to a world I could only imagine. Even though I was an unlikely candidate, somehow my dream came true. This award is especially meaningful to me because it comes from my fellow actors, whom I so admire."
