Martin Scorsese and Leonardo DiCaprio, who have collaborated on five films, will share the Cinema Vanguard Award at the Santa Barbara International Film Festival.
The honour will be presented to the legendary director and actor on February 6 at Santa Barbara's Arlington Theatre.
The Cinema Vanguard Award was created "in recognition of those who have forged his/her own path, taking artistic risks and making a significant and unique contribution to film."
Previous winners of the honour include Nicole Kidman, Peter Sarsgaard, Christoph Waltz, Ryan Gosling, Kristin Scott Thomas as Amy Adams.
Roger Durling, the Santa Barbara film festival's executive director, said in a statement: “Scorsese and DiCaprio’s partnership has become a legendary cinematic pas de deux recalling other great collaborations like John Ford and John Wayne, Fellini and Mastroianni, John Huston and Bogart – and even Scorsese and De Niro.”
Scorsese and DiCaprio's latest film, The Wolf of Wall Street, will be released in cinemas on January 17.