"This is such a tremendous honor. I am so excited about this. This is my community, my home and I am very proud of how far we have come in our journey," Cho said in a statement.
The Morris Kight Award was first presented in 2003 and honors an individual whose lifetime of work has made a lasting positive impact on the LGBT community.
Cho's new film, "Cho Dependent," will receive its world premiere at the Honolulu Rainbow Film Festival May 15. She is also on tour with her latest solo show, with stops set for the Edinburgh Fringe Festival, London and Brighton.
Cho appeared in the extended Off-Broadway production of The Sensuous Woman – a variety and burlesque-inspired evening embracing the female physical form. Prior to its Off-Broadway bow, The Sensuous Woman played a multi-city tour including Los Angeles, San Francisco and Chicago.
She is well known for her stand-up work in I'm the One That I Want, which also enjoyed a successful run Off-Broadway, on national tour and was subsequently filmed and adapted into a best-selling book. Her other one-woman shows include Notorious C.H.O., which would lead the comedienne to Carnegie Hall; Revolution; and the politically charged State of Emergency and Assassin. Cho was also seen by television audiences in her sitcom "All-American Girl," "Dancing With the Stars," and recently on "30 Rock." In addition to her work as an entertainer, Cho has been recognized for her political and humanitarian work by such organizations as GLAAD, American Women in Radio and Television, the Lambda Legal Defense and Education Fund, the National Gay and Lesbian Task Force, the Asian American Legal Defense and Education Fund, PFLAG and the National Organization for Women for "making a significant difference in promoting equal rights for all, regardless of race, sexual orientation or gender identity."