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Whatever Works, starring Larry David and Evan Rachel Wood, will premiere at the April 22 opening night.
Co-founder Jane Rosenthal said: "I fell in love with New York through Woody Allen’s movies... Whatever Works is a uniquely funny addition to his body of work."
The dark comedy, which was shot in New York, revolves around a man (David) who gets caught up in a series of love stories involving a young girl (Wood).
Speaking about the honour, Allen said: "A lovely idea of showing my film in a film festival in my own city. It's very exciting."
The annual festival runs from April 22 to May 3.
More: Woody Allen, Movies
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