The Alien director will be handed the award, which is the highest accolade bestowed by the organisation upon an individual in recognition of an outstanding and exceptional contribution to film, games or television, at the event in London on February 18.
He joins the likes of Alfred Hitchcock, Steven Spielberg, Sean Connery, Elizabeth Taylor, Stanley Kubrick, Anthony Hopkins, Judi Dench and Sidney Poitier in receiving the fellowship, which last year was handed to Mel Brooks.
Following the awards, Scott will discuss his craft and career at a BAFTA A Life In Pictures event, where he will discuss his work on films including Blade Runner, Thelma and Louise and Prometheus.
Scott said: “It is a privilege to have been able to make a career for myself in this industry and to be honoured for my body of work is indeed very gratifying.”
Amanda Berry, Chief Executive of BAFTA, said: “Ridley Scott is a visionary director, one of the great British filmmakers whose work has made an indelible mark on the history of cinema. His passion and unrelenting pursuit of excellence have provided cinema goers with a tantalising range of films, including Alien, Gladiator, Thelma and Louise and Blade Runner. 40 years since his directorial debut, his films continue to cross the boundaries of style and genre, engaging audiences and inspiring the next generation of film talent.”