The 'Life of Pi' director - who has picked up the Best Director Oscar award on two occasions - has joined the nine-person jury, which will award the top Palme d'Or prize to one of the 19 films in the running during the competition next month.
Spielberg - who has made 27 films during his 40-year career - is taking over from Nanni Moretti as the president of the jury this year.
Upon discovering the news in January, he said it was an ''honour and a privilege'' to following in the footsteps of the Italian director.
Nicole Kidman - who picked up an Oscar for her role in 'The Hours' - and Christoph Waltz - who received the Best Supporting Actor gong for his role in 'Django Unchained' - are both set to bring their expertise to the panel.
The Cannes Film Festival will take place between May 15 and 26.