The actor will receive the American Riviera Award. Festival organisers also announced on Wednesday  that the annual jamboree will open on Jan 24 with The US premiere of Henry-Alex Rubin’s ensemble drama Disconnect.
The American Riviera award was established “to recognise an artist who has had a strong influence on American Cinema.”
Previous recipients include last year’s winner Martin Scorsese, as well as Annette Bening, Sandra Bullock, Mickey Rourke, Kevin Bacon and Diane Lane.
DiCaprio currently stars in Quentin Tarantino’s Django Unchained.
LD Entertainment will release Disconnect on Apr 19.
The Santa Barbara Internationaln Film festival is scheduled to run from Jan 24-Feb 3.