The prize, which was given out Friday at a ceremony presided over by Sharon Osbourne, recognizes the British actress and comedian's lifetime body of work, the BBC said.
"It's lovely, I'm just thrilled. It's a nice achievement and I've got lots of friends here tonight," the British broadcaster quoted Ullman as saying at the event, which was part of LA's annual BritWeek festival.
Ullman is best known for her work on TV's "Three of a Kind," "The Tracey Ullman Show," "Tracey Takes On..." and "Tracey Ullman's State of the Union."
"I've come a bloody long way from my mum's window sill -- the original Tracy Ullman show," she said. "I'd draw the curtains and my mum would sit in bed and I'd do a show on the window sill."