According to a report from the industry magazine Hörzu, Schwarzenegger will receive the coveted award in the Lifetime Achievement category for his long contributions to the action movie genre.
The ceremony, which will take place on 27 February, is for the first time being held in Hamburg, rather than Berlin as usual.
The 50th anniversary of the Golden Camera marks a significant milestone in world cinema. According to the organizers, the former governor of California Schwarzenegger has created an admirable track record, "as he has built one of the world's greatest careers in bodybuilding into a gigantic success in Hollywood."
"His determination and of course his distinctive Styrian accent make him the ultimate, eternal hero of the action movie."
In July, Schwarzengger will reprise the classic role he created in the Terminator movies, as he returns to the big screen once more in the latest sequel, which is intended to reboot the franchise with three new movies.
The Golden Camera was created by Berlin artist Wolfram Beck. Beck based his creation on a Farnsworth-camera – the first electronic camera in the world.
The camera model is made of 18 carat gold-plated sterling silver. It is 25 cm high and weighs approximately 900 g. Depending on the current price of silver, the trophy has a material value of around 625 euro. With the exception of the junior actor awards, the award is not endowed with prize-money.