The award will also being conferred upon actress Anushka Sharma for her innings as a producer and actor Ranveer Singh for "Padmaavat" by the Mumbai-based Dadasaheb Phalke Foundation on April 21 here.
The award is given to various individuals from the entertainment industry for their outstanding contribution to the growth and development of Indian cinema.
"I've grown up knowing what immense involvement Dadasaheb Phalke had enjoyed in Indian cinema. It's such an honour to be conferred an award from the foundation," Tamannaah said in a statement.
Tamaanaah is currently working on Telugu film "Naa Nuvve" and the Telugu remake of Bollywood film "Queen".