The actor will be honoured with a Swarn Kamal (Golden Lotus), a cash prize of Rs 10 lakh and a shawl, according to the Ministry of Information and Broadcasting.
The actor, who was nicknamed Bharat Kumar, is known for his movies like Upkar, Shaheed, Woh Kaun Thi, Gumnaam, Purab Aur Paschhim and Clerk.