The actor turned director and producer is the 46th recipient of the award. The prize goes to someone whose "talent has in a fundamental way advanced the film art" and previous recipients include the likes of Harrison Ford, Steven Spielberg and composer John Williams.
When it was pointed out that he was young to get a lifetime achievement award, Clooney joke " I have a body of an 83 year-old so it works out."
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Stars including Cate Blanchett, Jennifer Aniston, Laura Dern and Cindy Crawford turned out for the event - many of which had acted alongside Clooney.
He said on the red carpet, "It's always embarrassing to be singled out in any kind of way but it's also, as an actor, one of the big ones you could ever get so it's exciting to be here. You know, I get to see a lot of old friends so it's going to be fun."
Clooney and his wife Amal were recently in the spotlight when they sat alongside the British royal family at the wedding of Prince Harry and Meghan Markle.
"It wasn't like any other wedding we've ever been to," he said, adding "But on the other hand, it's two people in love who are committed to spending their lives together and that feels kind of normal, so they're a happy couple... We need some good news in the world so it was fun to be there and feel that, you know."
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The full award ceremony will air on the US television station TNT on June 21.
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