Staff at The Museum of Contemporary Art recognised Leibovitz's talents by handing her the Award to Distinguished Women in the Arts during a private lunch at the Regent Beverly Wilshire hotel in Beverly Hills, California on Tuesday (01May12).
The portrait photographer, who began her career at Rolling Stone magazine, has staged shoots with numerous famous faces, including late The Beatles musician John Lennon and his wife Yoko Ono, and a naked and pregnant Demi Moore.
Leibovitz tells the Associated Press, "This award has been given to a great group of women, very distinguished company."
Previous recipients of the coveted prize include choreographer Twyla Tharp and actress Anjelica Huston.
Leibovitz was presented with the trophy by journalist and author Maria Shriver, who described the artist as "a woman of brilliance".