Showbiz
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The prize recognises individuals or teams that make great and historical achievements to the entertainment industry.
The Avatar director will be presented with the award during a ceremony next January at the Hyatt Regency Century Plaza in Los Angeles.
Previous winners include Alfred Hitchcock, Clint Eastwood and Walt Disney.
"James Cameron is an exceptionally talented producer - a true innovator with the rare combination of technical ingenuity and creative vision," said Guild chair Paula Wagner.
She added: "Jim has continued to change the film landscape with his ability to deliver groundbreaking masterpieces that present audiences and the industry with unrivalled beauty, originality and impact."
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