The festival runs Jan. 30, 2014-Feb. 9, and the tribute to Thompson will be held Feb. 8 at the Arlington Theatre.

The Modern Master Award was established in 1995 to pay tribute to an individual who has enriched culture through varied accomplishments in the motion picture industry. It is the highest honor presented by SBIFF.

Previous recipients include Ben Affleck, Christopher Nolan, Michael Douglas, Jodie Foster, Anthony Hopkins, Diane Keaton, Sean Penn, Jeff Bridges, Peter Jackson, George Clooney, Will Smith, Cate Blanchett, Clint Eastwood, Christopher Plummer and James Cameron.

Thompson, a two-time Oscar winner, counts "Howards End," "Remains of the Day," "In the Name of the Father," "Much Ado About Nothing" and "Love Actually" among her many film credits. She also adapted the novel "Sense and Sensibility" into a screenplay, for which she received an Academy Award for Best Screenplay and a nomination for Best Actress.

Thompson will make her New York stage debut as Mrs. Lovett in the New York Philharmonic's 2014 return staging of Stephen Sondheim's Sweeney Todd March 5-8. "With the distinction of being the only artist to win an Oscar for both Best Actress and Best Screenplay, Ms. Thompson exemplifies the spirit of the Modern Master," SBIFF executive director Roger Durling said in a statement.

Tickets and more information can be found by calling (805) 963-0023 or visiting sbfilmfestival.org