The event is slated to take place Feb. 21 during Oscar week in Los Angeles.
"Essence is pleased to honor Jada Pinkett Smith for her body of work in Hollywood and within the African-American community," Essence editor-in-chief Angela Burt-Murray said in a statement. "The Essence Black Women in Hollywood Luncheon will celebrate the talent, vision and legacy of Jada and all of our honorees. We hope this event will also inspire a new generation of African-American actresses and filmmakers in Hollywood."
The star of "The Matrix Reloaded," "Matrix Revolutions," "Collateral," "Reign Over Me" and "Ali," Pinkett Smith is developing several projects for her own production company, 100% Womon, as well as for Overbrook Entertainment.
Chief among these projects is "The Human Contract," which will mark her debut as a writer/director.
Pinkett Smith also created and executive produced the television sit-com "All of Us" on the CW Network with her husband and fellow actor Will Smith.