Fiennes directed and co-stars in "Coriolanus," which received a gala screening at the BFI London Film Festival. "I'm extremely honoured and delighted to be given this fellowship by the BFI," Fiennes said in a statement.
The honors will be presented as part of the London Film Festival Awards ceremony on Oct. 26.
Fiennes earned a Tony for Hamlet and an Academy Award nominations for "The English Patient" and "Schindler's List." He co-stars in "Coriolanus" with Gerard Butler and Brian Cox.
In addition to "The Fly," Cronenberg's films include "Crash," "A History of Violence" and "A Dangerous Method."