TV legend Bill Cosby is set to receive the Johnny Carson Award for Comedic Excellence at the upcoming 2014 American Comedy Awards.

The 76-year-old actor and comedian will be honoured for his  work over the past 50 years during a ceremony on 26 April (14) in New York City.

The prestigious award, named after iconic U.S. talk show host Johnny Carson, is given to "an individual who, over the course of their lifetime, has made an extraordinary contribution to comedy".

The American Comedy Awards will air Thursday, May 8 at 9:00 p.m. EST on NBC.