The awards gala will be held on Jan. 4 at the Palm Springs Convention Center -- the second day of the fest, which runs Jan. 3 to 13.
Bullock's performance in Alfonso Cuaron's "Gravity" has generated substantial awards buzz following her Oscar for "The Blind Side" in 2010. Bullock plays Dr. Ryan Stone, who finds herself lost in space after a routine mission goes terribly awry. She has described the role as the most physically, emotionally and mentally challenging experience of her life.
The near one-woman show also stars George Clooney, who Bullock said she missed terribly when he left the set after completing his handful of scenes. "When George (Clooney) came, it was like an energy force and I was so appreciative of him being there," she told Variety's Tim Gray. "And when he left, I have never been hit with a depression like that."
The Palm Springs Fest previously announced that Matthew McConaughey would also be honored with the Desert Palm award, and duo also nabbed top acting honors at October's Hollywood Film Awards.
Bullock also starred opposite Melissa McCarthy in this summer's hit comedy "The Heat," which grossed almost $230 million worldwide.
Past actresses who recognized with the Desert Palm Achievement Award include Halle Berry, Marion Cotillard, Anne Hathaway, Natalie Portman, Charlize Theron, Naomi Watts and Michelle Williams. All except Watts won Oscars.
Related storiesActors Playing Real-Life People Abound in Awards Films'Gravity' Producer David Heyman Moving to 'Temple Run'Matthew McConaughey Nabs Actor Honor at Palm Springs Fest 2013 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLCCopyright © 2014, The Baltimore Sun