The two-time Oscar winner will receive his award Jan. 4 at the film festival's awards gala at the Palm Springs Convention Center.
"Tom Hanks is one of the greatest actors of his generation," festival Chairman Harold Matzner said in a statement Monday. "In a remarkable feat that vividly illustrates the range of his talent, he portrayed two real life characters, each with a powerhouse performance in its own right. "
Past recipients of the Chairman's Award include
The gala will include award presentations to honorees previously announced: