The Hollywood Reporter says Berry will receive the honor next month at the paper's 18th annual Power 100: Women in Entertainment breakfast.
The award recognizes groundbreaking contributions to the entertainment industry. Besides Streep and Foster, past recipients include Barbara Walters, Glenn Close and Lansing herself.
Hilary Swank will give the keynote address at the Power 100 breakfast, to be held Dec. 4 at the Beverly Hills Hotel.
A former fashion model and beauty queen, Berry is the first African-American to be nominated for a Best Actress Oscar and to win one. She won for her 2001 role in "Monster's Ball."
Her last movie role was in 2007's "Things We Lost in the Fire." She next will be seen playing a woman with a multiple personality disorder in "Frankie and Alice."
Twice married, Berry gave birth in March 2008 to Nahla Ariela Aubry, her first child with boyfriend Gabriel Aubry, a French -Canadian model.