The American Film Institute has announced that it will be presenting Michael Douglas with its prestigious Lifetime Achievement Award this coming June, according to Variety. Last year, the organization gave the honor to Warren Beatty. Douglas won an Oscar for his leading performance in Wall Street and also for his role as a producer on One Flew Over the Cukoo's Nest. The actor can next be seen in Beyond a Reasonable Doubt and Ghosts of Girlfriends Past.