Meryl Streep will receive the honorary Palme d’Or for lifetime achievement at the Cannes Film Festival later this month.

The Oscar-winning acting legend will be the guest of honour at the opening ceremony at the Grand Théâtre Lumière in Cannes, France on Tuesday 14 May.

The event will mark the second time Streep has appeared at Cannes and her first since she won the Best Actress award for Evil Angels, also known as A Cry in the Dark, in 1988.

“I am immeasurably honored to receive the news of this prestigious award,” Streep said in a statement. “To win a prize at Cannes, for the international community of artists, has always represented the highest achievement in the art of filmmaking. To stand in the shadow of those who have previously been honored is humbling and thrilling in equal part. I so look forward to coming to France to thank everyone in person this May!”

Streep follows in the footsteps of previous honourees including Catherine Deneuve, Jane Fonda, Forest Whitaker, Tom Cruise and Jodie Foster and last year’s recipients Michael Douglas and Harrison Ford.

“We all have something in us of Meryl Streep!” Cannes bosses Iris Knobloch and Thierry Frémaux added. “We all have something in us of Kramer vs. Kramer, Sophie’s Choice, Out of Africa, The Bridges of Madison County, The Devil Wears Prada and Mamma Mia! Because she has spanned almost 50 years of cinema and embodied countless masterpieces, Meryl Streep is part of our collective imagination, our shared love of cinema.”

Honorary Palme d’Or prizes will also be awarded to Star Wars director George Lucas and Japanese animation house Studio Ghibli during this year’s festival, which runs from 14 to 25 May.

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