The Godfather star, who received a career tribute at the Gotham Independent Film Awards on Monday (29Nov10), will be honoured for his expansive body of work on 8 January (11) at the 22nd annual gala in California.
Festival chairman Harold Matzner says, "For nearly 50 years, Robert Duvall has transfixed cinematic audiences with his gritty, intuitive performances.
"In Get Low, his most recent role, Duvall portrays a backwoodsman who stages his own funeral while still alive. Duvall gives a virtuoso performance, challenging audiences to understand his character who is caught between myth and reality."
The Oscar winner will be in good company after scooping the accolade - along with Eastwood and Freeman, previous honourees include Dame Helen Mirren, Kevin Costner and Cate Blanchett.