Beatty won the best director Oscar for Reds in 1982 and earned four acting nominations for Bonnie And Clyde, Reds, Heaven Can Wait, and Bugsy.
'Warren Beatty has charmed movie-goers as a dynamic leading man from his first moment on screen and continues to do so today,' AFI board of trustees chair Howard Stringer said.
'He is also a master film-maker - a writer, producer and director of such artistry and influence that his movies - from Bonnie And Clyde to Reds - have left an indelible mark on the cultural legacy of American film.'
Previous AFI Life Achievement Award recipients include James Cagney, Bette Davis, James Stewart, David Lean, Steven Spielberg, Barbra Streisand, Meryl Streep, and this year's honouree Al Pacino.
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