Sir Ian McKellen will receive the Freedom of the City of London later this month.
actor will be awarded with the honour at London's Guildhall on Thursday, October 30.
Fiona Woolf, Lord Mayor of London, said: "It was a privilege to meet Sir Ian at The Mansion House in June this year, when he was guest of honour at the Pride in London Gala Dinner and it was a particular pleasure to announce to the guests, many of whom admire his acting and campaigning work, that he would receive the Freedom of the City of London.
"My colleagues and I will be delighted to host his ceremony at Guildhall. Sir Ian is an exceptional actor of international acclaim, whose repertoire ranges from Shakespeare and Pinter to Hollywood blockbusters and situation comedy.
"He is also a tireless campaigner for equality, for which I have the greatest admiration, so it is entirely appropriate that we honour his achievements," she added.
Earlier this year, McKellen urged the public to raise funds for vulnerable LGBT youth - watch his video message here
> Sir Ian McKellen receives honorary degree from Cambridge