The composer, a former member of Oingo Boingo, will be honoured for his contributions to film on October 25, The Hollywood Reporter has announced.
Critic Todd McCarthy will present Elfman with the 'Maestro Award' and also lead a Q&A session with the musician.
The event is to be held at the W Hotel in Hollywood.
Elfman has worked extensively with director Tim Burton and has also composed the scores for classic films such as Spider-Man, Milk and the new biopic Hitchcock.
He is a four-time Academy Award nominee and earned an Emmy for the Desperate Housewives theme in 2005.