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Veteran French actress Catherine Deneuve will be feted with the prestigious Golden Lion for Lifetime Achievement Award at the 79th Venice Film Festival.

The fest is supposed to be held from August 31 to September 10 on the Lido, reports 'Deadline'.

Deneuve, who secured an Oscar nomination for the 1992 period drama' Indochine' said in a statement accessed by 'Deadline', "It is a joy to receive this prestigious award at the Venice Festival, which I love and have known for a long time, since 'Belle de Jour' by Luis Bunuel received the Golden Lion in its day. It is also an honour to be chosen for this tribute at the film festival that has accompanied me so often for so many movies. Thank you, best regards."

'Belle de Jour' won the Golden Lion in 1967 while Deneuve took the 1998 Best Actress Volpi Cup for her performance in Nicole Garcia's Place Vendome.

'Deadline' quoted Venice Fest chief Alberto Barbera as he spoke about Catherine, "An impressive number of movies, most of which are major international successes. An equally remarkable number of awards she has received at the world's most important festivals, plus an Oscar nomination for best actress in a leading role, a rare privilege for an artist who is not American."

He further mentioned, "A succession of artistic partnerships with some of Europe's top directors and actors: Roger Vadim, Jacques Demy, Luis Bunuel, Francois Truffaut, Roman Polanski, Marco Ferreri, Marcello Mastroianni, and Gerard Depardieu."

"An indisputable talent at the service of a gift for acting, plus a sophisticated and rare beauty, attributes which have helped make her the very symbol of French cinema, a timeless diva and a true icon of the silver screen. From one of the key figures of the Nouvelle Vague and a privileged example of a concept of style that is associated with French fashion, Catherine Deneuve has come to embody the essence of the universally recognized diva, taking her place as one of the greatest actresses in film history", Alberto concluded.