UPDATED, 9:09 AM: The SAG Awards producers said today that Leonardo DiCaprio will present the SAG Life Achievement Award to Robert De Niro at the 26th annual ceremony next month. The actors first starred together in 1993’s This Boy’s Life, when DiCaprio was a teenager, and later both appeared in films including Marvin’s Room (1996), along with Meryl Streep and Diane Keaton. and the Martin Scorsese-directed 2015 short The Audition.

PREVIOUSLY, November 12: Oscar winner Robert De Niro has been named the 56th recipient of the SAG Life Achievement Award. He will be presented the union’s top honor January 19 during the 26th annual SAG Awards that air live on TNT and TBS.

The award is given annually to an actor who fosters the “finest ideals of the acting profession.” SAG-AFTRA said Tuesday. Last year, Alan Alda was the recipient.

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The news comes at a busy time for De Niro, the two-time Oscar winner for The Godfather Part II and Raging Bull. He stars in Martin Scorsese’s The Irishman and co-stars opposite Joaquin Phoenix in Joker, both pics in the awards-season mix. He’s also coming off an Emmy nom for playing Robert Mueller on Saturday Night Live.

“Robert De Niro is an actor of extraordinary depth and ability,” said Gabrielle Carteris, president of SAG-AFTRA. “The characters he creates captivate our imaginations. From the smoldering inferno of young Vito Corleone to the raging bull Jake Lamotta and everybody’s grandpa Ben Whittaker, he continues to touch our hearts and open our minds to new and exciting worlds of understanding and emotion. It is my great privilege to announce that SAG-AFTRA’s highest honor will be presented to one of the most singular talents of our generation, Robert De Niro.”

De Niro, a seven-time Academy Award nominee, six-time BAFTA nominee and a nine-time Golden Globe nominee, has been nominated four times for SAG Awards: as part of the ensembles for Silver Linings Playbook and Marvin’s Room, and individually for Silver Linings and for starring as Bernie Madoff in the 2017 HBO movie The Wizard of Lies.

“I have been a member of this union for over 50 years. It’s an honor to receive this award from SAG-AFTRA,” De Niro said.