Michael Douglas will be presented with the Honorary Palme d’Or at this year’s Cannes Film Festival.

The Wall Street actor will receive the lifetime achievement honour during the French festival’s opening ceremony on 16 May in recognition of “his brilliant career as well as his engagement for cinema”.

“It is always a breath of fresh air to be at Cannes, which has long provided a wonderful platform for bold creators, artistic audacities and excellence in storytelling,” Douglas said in a statement. “From my first time here in 1979 for The China Syndrome to my most recent premiere for Behind the Candelabra in 2013, the Festival has always reminded me that magic of cinema is not just in what we see onscreen but in its ability to impact people all around the world.

“After more than 50 years in the business, it’s an honor to return to the Croisette to open the Festival and embrace our shared global language of film.”

Over the course of his career, Douglas has appeared at Cannes to promote movies such as The China Syndrome, Basic Instinct, Falling Down, Wall Street: Money Never Sleeps and Behind the Candelabra.

As part of its tribute to Douglas, Cannes organisers will also screen the previously-unreleased documentary, Michael Douglas, The Prodigal Son, on the festival website between 14 and 16 May, its opening day. The festival concludes on 27 May.

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