Norton, who recently starred in the Oscar-winning films "Birdman" and "The Grand Budapest Hotel," will be presented the award by Mary-Louise Parker, honorary chair along with Roma Torre.

"When you’re 21 and arriving in New York, it’s enormously challenging at best, intimidating at worst. So for me, the T. Schreiber Studio proved to be an enormous blessing. Terry created a real school, where many different teachers teach many different skills," Edward Norton said in a press statement. "The first plays, and still some of the best that I ever did in New York were at the Schreiber Studio. I still – daily, in my work –use things that I learned from him and others at the studio. I’m very, very grateful to Terry and the institution of the Schreiber Studio."

Norton joins past honorees Judith Light, Cynthia Nixon, Wendy Wasserstein, Marian Seldes, Gerald Schoenfeld, Betty Buckley, Amy Ryan, John Patrick Shanley, Anne Jackson, Eli Wallach and Roger Berlind, among others

The evening will also pay tribute to alumni Jonny Orsini (Fish In The Dark) and Julie Halston (You Can’t Take It With You), who will serve as mistress of ceremonies.

Proceeds from the gala, which will feature entertainment, dinner and cocktails, will benefit T. Schreiber's professional training program and mission to present theatre at affordable prices since its founding in 1969. Tickets begin at $450 and can be purchased by visiting tschreiber.org.