The actress will be the recipient of the 2012 Cinema Icon Award, which will be presented to her at the upcoming CinemaCon convention in Las Vegas.
CinemaCon managing director Mitch Neuhauser said: "Michelle Pfeiffer is truly one of the film industry's great leading ladies."
Pfeiffer will join fellow actress Charlize Theron as an award recipient at the convention, held from April 23 to April 26.
Theron, who stars in the upcoming movie Snow White and the Huntsman, will be honoured with the Distinguished Decade of Achievement in Film Award.
Pfeiffer can be seen next in Tim Burton's Dark Shadows opposite Johnny Depp, Eva Green and Helena Bonham Carter, which arrives in theatres on May 11 in the US and UK.
Watch the trailer for Dark Shadows below: