The National Constitution Center made the announcement Tuesday. Former President Bill Clinton will present the award, which comes with a $100,000 cash prize, to Spielberg on Oct. 8.
Spielberg's film's include "Schindler's List," "Saving Private Ryan" and "The Color Purple." He has also established a foundation to produce video and oral histories of Holocaust survivors.
The Liberty Medal was established in 1988 to honor individuals and organizations whose actions represent the founding principles of the United States.
Previous winners have included Bono, Afghan President Hamid Karzai and former U.S. President Jimmy Carter.