The group's Los Angeles branch said Stiller will receive the Charlie Chaplin Britannia Award for Excellence in Comedy.
Veteran producer Nigel Lythgoe called Stiller "a master of comedy who, just like the legendary filmmaker for whom this award is named, embodies the remarkable multi-hyphenate talents of actor, writer, director and producer".
Lythgoe serves as chairman of Bafta Los Angeles.
Stiller will receive the honour at the Britannia Awards on November 30, when actress Helena Bonham Carter and animator John Lasseter are also being recognized.
Stiller, 45, has earned box-office success and critical acclaim as a writer, director, actor and producer.
He will next be seen opposite Eddie Murphy in Tower Heist.