The Meet the Parents funnyman has been named as the recipient of the honor in recognition of giving moviegoers some of the funniest characters of the last decade, including Derek Zoolander, Gaylord Focker and Tugg Speedman.
Stiller kicked off his career with his own MTV series in the early 1990s, which was subsequently cancelled after one season.
But the actor remembers his time at the channel fondly, even joking he romanced veteran MTV presenter J.J. Jackson.
He says, "I am honored to be getting the Generation Award. I was given my first show at MTV and also cancelled for the first time. I also was secretly having an affair with J.J. Jackson, so it brings back pleasant memories."
The Golden Popcorn prizes, nominated and voted for by MTV viewers, will be handed out in Los Angeles on May 31.
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