The Oscar-winning filmmaker, known for works likeThe Shape of Water and Pinocchio, will be recognised for his "extraordinary contribution to film" across animation and live-action.
The honour will be accompanied by a comprehensive public retrospective of his career at BFI Southbank, where he will also curate a dedicated film season and deliver masterclasses to young filmmakers.
Del Toro expressed profound gratitude, stating it was "the honour of a lifetime" and acknowledging the significant influence of British film on his work.
He joins an illustrious group of past BFI Fellows, including cinematic giants such as Martin Scorsese and Christopher Nolan.