Ballhaus will collect the honour at the 21st Annual ASC Outstanding Achievement Awards in Los Angeles on Feb 18, 2007.
Ballhaus has been nominated three times for the Oscar for Gangs Of New York in 2002, The Fabulous Baker Boys in 1989, and Broadcast News in 1987.
He recently reunited with Martin Scorsese on The Departed, and previously worked with Scorsese on Goodfellas, The Age Of Innocence, and The Color Of Money.
His long roster of films includes Primary Colors, Dracula, Quiz Show, Something's Gotta Give, and The Bitter Tears of Petra von Kant.
'Michael Ballhaus was chosen for this tribute by his peers who are both awed and inspired by the breadth and scope of his artistry,' ASC awards committee chairman Russ Alsobrook said. 'He is an extraordinary artist whose work has entertained and informed countless millions of fans around the world.'