Michael Douglas Palm Springs International Film Festival Icon Award Recipient 2011

Cancer-stricken screen star Michael Douglas, 66, will be honored with the Icon Award at the 22nd Annual Palm Springs International Film Festival next month for his work as an actor and producer.

The actor, 66, is planning to take time out from his treatment for throat cancer to collect the accolade in person. Douglas is also planning to attend the Golden Globes, where he has been nominated in the Best Supporting Actor category for his role as Gordon Gekko in Wall Street: Money Never Sleeps.

Each year, the Icon Award is given to individuals who have created a great body of work, which symbolizes the highest level of achievement, says festival director Darryl MacDonald.

“We’re thrilled to have the opportunity to honour Michael Douglas at a time when both his creative prowess and his contributions to world cinema have never been more evident – or more deserving of celebration. Simply put, he’s an American treasure.”

The Jan. 13 festival will devote an entire evening to Michael and his work, complete with clips of his films and an on-stage conversation between the actor and Variety journalist Peter Bart. Douglas will be presented with the honor following a screening of his film Solitary Man, in which the Oscar winner plays a car executive who watches his professional and personal life spin out of control.

Since completing his first round of chemotherapy last month, Michael has been spending time with wife Catherine and their two children — Dylan, 10, and Carys, seven.