Washington, May 13 -- Veteran actor and director Robert De Niro, who is the recipient of various accolades, will receive an honorary Palme d'Or at the Cannes Film Festival.

Actor and film producer Leonardo DiCaprio will present Robert De Niro with the honorary Palme d'Or for lifetime achievement at the Cannes Film Festival's opening ceremony, according to Variety.

De Niro has earned two Academy Awards, one for Best Supporting Actor for his role as Vito Corleone (in flashback scenes) in Francis Ford Coppola's The Godfather Part II (1974) and the other for Best Actor for his portrayal of Jake LaMotta in Scorsese's boxing biopic drama Raging Bull (1980).

He was also Oscar-nominated for Taxi Driver (1976), The Deer Hunter (1978), Awakening...