Cate Blanchett is to be honoured with the Outstanding Performer of the Year Award at the Santa Barbara International Film Festival in California in February (14) for her role in Woody Allen's Blue Jasmine.

The Australian actress has received Oscar buzz for the role and experts predict it will land her a sixth Academy Awards nomination next year (14).

She will be feted at Santa Barbara's historic Arlington Theatre on 1 February (14), as part of the festival's 29th annual gala.

Previous recipients of the prize have included Charlize Theron, Kate Winslet, Heath Ledger, Helen Mirren, Angelina Jolie, Penelope Cruz and Jennifer Lawrence.