The Critics Choice Association made the announcement Monday, noting Murphy's extraordinary roles over the years, including his recent portrayal of Rudy Ray Moore in Netflix's Dolemite Is My Name.
The CCA said that the actor and comedian is the most commercially successful African-American actor in the history of motion pictures and is one of the industry's top five box office performers overall.
Murphy is best known for his roles in Coming to America, Beverly Hills Cop, 48 Hours, Trading Places, The Nutty Professor, Shrek and more. He recently wrapped up production on a Coming to America sequel.
The Critics' Choice Awards gala will be hosted by Taye Diggs and telivised live on The CW on Jan. 12 at 7 p.m. EDT. Kristen Bell is also set to receive the #SeeHer Award.