The 60-year-old star of "The Good Wife" will be honoured at the annual Rockie Awards Gala on June 11.
Baranski has been nominated for three Emmys for her role on the Chicago-set legal drama, while also racking up nods for past appearances on "Cybill," "Frasier" and "The Big Bang Theory."
Raised in Buffalo, N.Y., the Juilliard-trained actress is also a two-time Tony Award winner for her performances in "The Real Thing" and "Rumors."
Her film resume, meanwhile, includes roles in "Mamma Mia," "Chicago," "How the Grinch Stole Christmas," and "The Birdcage."
Past winners of the Banff honour include Larry King, William Shatner and Ed Asner.
"Christine Baranski has celebrated an illustrious career that has spanned television, film and Broadway," said the festival's executive director, Ferne Cohen, in a release.
"We are so pleased to have her at Banff and look forward to honouring her with the lifetime achievement award for her incredible achievements."
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