Almodóvar, whose films include the Oscar-winning "All About My Mother" and "Talk to Her," as well as "Tie Me Up! Tie Me Down!" and "Volver" -- which is in competition at the Cannes Film Festival -- said he was "overwhelmed" by the honor, the BBC reported Thursday.
"It's one of the most important prizes I've ever received," he said.
The Asturias Prize jury cited "the ingenuity and sincerity of (Almodóvar's) films and the zest and vivacity of his screenplays" in announcing the award.