The star picked up her 17th Oscar nod earlier today (January 24) for her leading role in Margaret Thatcher biopic The Iron Lady.
Streep said: "I am honoured to be in company with such beautiful artists, and touched deeply by my fellow actors for their generosity in giving me this acknowledgement."
The actress is up against Glenn Close (Albert Nobbs), Viola Davis (The Help), Rooney Mara (The Girl with the Dragon Tattoo) and Michelle Williams (My Week with Marilyn) for the prize.
Former chancellor Nigel Lawson last month tipped Streep to win an Oscar for her performance.
"Meryl Streep is a very fine actress and has got Margaret's personality right and her mannerisms very well," he said.
The actress has already won prizes for her role at the Berlin Film Festival, London Critics' Film Circle and Golden Globes.
She has also received a BAFTA nomination for the part.
Despite her 17 Academy Award nods, Streep has only won two Oscars - picking up 'Best Supporting Actress' for Kramer vs. Kramerin 1979 and 'Best Actress' for Sophie's Choice in 1982.
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Watch Jim Broadbent and director Phyllida Lloyd talk about The Iron Lady and Meryl Streep below: