The 'Rock of Ages' actor will become only the fourth person ever to be presented with the award - along Hollywood legends Douglas Fairbanks, Cary Grant and Frank Sinatra - when he picks up the gong at the Friars Foundation Gala at the Waldorf-Astoria on June 12.
The Friars Club was founded in 1904 and along with providing a haven for some of the industry's most noteworthy figures, it also aims seeks to secure a future generation of performers and artists by granting a number of scholarships to students in the performing arts.
Friars Club Abbot Jerry Lewis announced: ''Tom Cruise will join an elite group of only three other entertainment legends who have received our Icon Award, and whose work has made a global impact on our industry and changed the very face of cinema.''
The Foundation's Chairman, Ambassador Joseph Zappala added: ''This will be an incredible night that will live forever in our club's history. We are so proud to be presenting this unique honour to Tom Cruise who humanitarian endeavours mirror his accomplishments in cinema and the arts.''
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