The movie, directed by Peter Ramsey, will not be released in U.S. theatres until November (12), but the project has already received high praise from industry leaders.
It will be honoured at the festival's Los Angeles ceremony on 22 October (12).
The film follows classic magical characters Santa Claus, the Easter Bunny, and the Tooth Fairy as they try to protect the imagination of children around the world, with Pine voicing the lead character, Jack Frost.
Hugh Jackman, Isla Fisher, Alec Baldwin and Jude Law also lend their talents to the film.
Founder of the Hollywood Film Festival, Carlos de Abreu, says, "It is a great pleasure to recognise Rise of the Guardians as the recipient of our animation award. This piece of avant-garde animation style surely will be another classic for generations to come."
Past recipients of the Hollywood Animation Award include Cars, Ratatouille, Toy Story 3, UP and Wall-E.