The two-time Oscar winner will pick up the trophy at the opening ceremony on July 6th.
US director and actor Jodie Foster will receive the Honorary Palme d'Or at the Cannes Film Festival, in recognition of her artistic career achievement.
Foster made her first appearance at the festival as a teenager in 1976, for the premiere of "Taxi Driver," in which she starred alongside Robert De Niro.
"It's an extraordinary moment. The first time I came here I was 12 years old and everything was a little bit different. It was much more chaotic then, photographers were everywhere, there were no barricades really, to speak of. There was no Palais, the red carpet was kind of at the Carlton I think," said Foster.
"That really was, even though I had been an actor for quite a while and had made many movies, that really was the beginning of my life as an actor," she added.
This year's Cannes Film Festival runs 6-17 July.