The Hollywood Foreign Press Association (HFPA) said it was "proud" to give the actor the 2020 Cecil B DeMille award at the event on 5 January.
Hanks won back-to-back Oscars, and Golden Globes, for his lead roles in Philadelphia and Forrest Gump in 1994 and 1995 respectively.
The HFPA said they had "grown to love and admire" the 63-year-old.
"For more than three decades, he's captivated audiences with rich and playful characters," said Lorenzo Soria, the organisation's president.
"As compelling as he is on the silver screen, he's equally so behind the camera as a writer, producer and director."
The actor made his movie breakthrough playing a teenager trapped in an adult's body in 1988 movie "Big".
Other career highlights include "Sleepless in Seattle", "Saving Private Ryan" and voicing cowboy doll Woody in the Toy Story film series.
He will next be seen on the big screen in "A Beautiful Day in the Neighborhood" playing US children's television host Fred Rogers.
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