The organisation simultaneously issued a call for entries in the annual competition. The deadline for submissions is Oct 31.
The Laszlo Kovacs Heritage Award will be presented to one or more recipients during the 22nd Annual ASC Outstanding Achievement Awards on Jan 26 2008 in Hollywood.
'Laszlo Kovacs was both an extraordinary artist and human being,' ASC president Daryn Okada said. 'He was chairman of the ASC Education Committee for many years, and was tireless in his efforts to support students and other young film-makers.
'Laszlo envisioned the Heritage Award as a tangible way for us to inspire talented young cinematography students to pursue their dreams. It was his idea to annually re-dedicate the Heritage Award to the memories of different ASC cinematographers.'
Kovacs was born in 1933 on a farm in Hungary and fled to the US with his friend Vilmos Zsigmond after they secretly filmed the 1956 revolution with a camera they borrowed from their film school.
Kovacs' credits include Easy Rider, Five Easy Pieces, Shampoo, Paper Moon, Ghostbusters, and My Best Friend's Wedding. He received the Lifetime Achievement Awards from the Camerimage International Festival of the Art of Cinematography in 1998 and from the ASC in 2002.