The prize recognizes an actor or executive who has made "a significant and meaningful impact" in television.
Organizers say the "Seinfeld" comic will accept the award at the annual Rockie Awards Gala, which celebrates some of the biggest names in the media industry.
Louis-Dreyfus says in a release that it's an honour to be chosen as the first recipient.
Her lengthy TV career includes indelible roles as Elaine Benes on "Seinfeld," Christine Campbell on "The New Adventures of Old Christine" and most recently as vice president Selina Meyer on "Veep."
The Banff World Media Festival runs June 9 to 12.
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