The duo will be honoured Feb 6 at Santa Barbara's Arlington Theatre as part of the festival, which will run Jan 30 to Feb 9, reports hollywoodreporter.com.
Scorsese and DiCaprio, who have just worked on "The Wolf Of Wall Street", will receive the award for their extraordinary film collaboration which has produced five exemplary films, including "Gangs of New York", "The Aviator", "Shutter Island", "The Departed" and recently "The Wolf of Wall Street".
"Scorsese and DiCaprio's partnership has become a legendary cinematic pas de deux recalling other great collaborations like John Ford and John Wayne, Fellini and Mastroianni, John Huston and Bogart - and even Scorsese and De Niro," Roger Durling, SBIFF's executive director, said in a statement.
SBIFF's Cinema Vanguard Award was created "in recognition of those who have forged his/her own path, taking artistic risks and making a significant and unique contribution to film."
The previous recipients of the Award include Amy Adams, Jean Dujardin and Berenice Bejo, Nicole Kidman, Vera Farmiga, Peter Sarsgaard, Stanley Tucci, Christoph Waltz, Kristin Scott Thomas and Ryan Gosling.
--IANS (Posted on 03-01-2014)