Gandolfini died of a heart attack in Italy last summer. He was 51.
He and Buscemi co-starred in the HBO series "The Sopranos," as well as in the big-screen comedy, "The Incredible Burt Wonderstone."
Gandolfini will given a posthumous tribute by Buscemi at the 23rd annual Gotham Independent Film Awards Dec. 2 at Cipriani Wall Street.
"James Gandolfini was a friend, an inspiration, and an extraordinary talent whose presence is missed by all of us who knew and loved him. It is an honor to present this tribute at the Gotham Awards recognizing his impact," Buscemi said in a statement.
"We are honored to pay tribute to a man whose life and work has inspired and moved so many who knew him personally, or through his vast body of work on the stage and screen, where he collaborated with so many independent artists to bring to life unforgettable, iconic characters," said Joana Vicente, executive director of the Independent Film Project and the Made in New York Media Center by IFP.
Gandolfini can currently be seen in the critically acclaimed romantic comedy, "Enough Said."