The Forrest Gump star will be feted with the Trailblazer Award at a ceremony in Los Angeles for his Oscar-winning performance.

A statement from Outfest board co-president Ari Karpel reads: "More than two decades later, Tom Hanks' performance as a gay man with AIDS in Philadelphia stands as a landmark example of a risk well taken.

"His Oscar acceptance speech, in which he eloquently honored two gay men who were influential in his life, sent an essential message during a time of crisis."

The Kids Are All Right director Lisa Cholodenko will also be honoured with the Visionary Award.

Previous honourees have included Hilary Swank and filmmakers Lee Daniels and Roland Emmerich.