Scheduled to be bestowed on April 26 during the opening night of the TCM Classic Film Festival, the honor will receognize Scorsese for his decades-long commitment to the legacy and preservation of classic films, a news release said.
The award is named for Robert Osborne, who served as the primetime host and anchor of the Turner Classic Movies channel for more than 22 years. He died in 2017 at the age of 84.
DiCaprio, 43, and Scorsese, 75, have worked together on Gangs of New York, The Aviator, The Departed, Shutter Island and The Wolf of Wall Street. Scorsese's other famous works include Mean Streets, Taxi Driver, Raging Bull, Goodfellas, Casino, Hugo and Silence.