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The “Wonder Woman” helmer will receive the honour from festival president Pierre Lescure, artistic director Thierry Fremaux, and Francois-Henri Pinault, president and CEO of luxury goods firm Kering, which is behind the initiative.
According to the organisers, Jenkins is being honoured this year in recognition of the fact that her work has enabled significant progress to be made in the fight for gender equality.
The presentation will take place at a Women in Motion dinner on May 13.
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Previous winners of the award include Jane Fonda, Geena Davis, Susan Sarandon and Isabelle Huppert.
“Wonder Woman” was the highest-grossing summer movie of 2017. Jenkins has signed up to direct the upcoming sequel, which is currently in pre-production.
The festival runs from May 8 to May 19.