The Reservoir Dogs star, 77, will receive the prize in the Swiss city's Piazza Grande on Saturday (6Aug16).

A statement posted on the prestigious movie event's website reads, "Fifty years and over a hundred faces. In a name, Harvey Keitel. Locarno embraces one of the greatest actors in Hollywood and rewards him on August 6th in Piazza Grande with the Lifetime Achievement Award."

The announcement went on to list many of the actor's most famous films including his collaborations with Martin Scorsese; Who's That Knocking At My Door, Mean Streets and Taxi Driver.

As well as receiving his award, the actor will also give a talk at the event's Spazio Cinema (Forum) on Sunday (7Aug16).

In his own statement to editors at America's Variety magazine the festival's artistic director Carlo Chatrian said, "Harvey Keitel has recounted an America that is both violent and vulnerable, self-ironizing and committed."

Previous winners of the Lifetime Achievement Award at the festival, which is held in an Italian speaking part of Switzerland, include Harrison Ford, late The Deer Hunter director Michael Cimino and French star Alain Delon.