The arch villain of Bollywood, Pran Krishan Sikand - or Pran as he is popularly known - was named for the Dadasaheb Phalke award.
The actor turned 93 in February this year.
Confirming the news, a source from the Information & Broadcasting Ministry said, "Yes, he (Pran) is getting Dadasaheb Phalke award."
Pran acted in over 400 movies in a career spanning over six decades and played a vast range of roles from hero to villain to character artist.
He became a symbol of villainy after his portrayals of a bad guy in a series of films including hits such as Madhumati, Ziddi and Ram Aur Shyam.
While he rocked as a villain, he was equally good when he stepped into character roles and won many hearts as the loveable Mangal chacha in Upkar, thoroughly entertained as the street-smart fraud in Victoria No.203, and epitomised on-screen friendship in the role of a rough but kind Pathan in Zanjeer.