Eddie Murphy is set to receive the prestigious Lifetime Achievement Award at the 25th Annual Critics’ Choice Awards.

On Monday, the Critics’ Choice Association announced that the beloved actor will be honored with the award for his remarkable four-decade career.

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“The Critics' Choice Association (CCA) announced today [Dec. 30] that film icon Eddie Murphy will receive the Lifetime Achievement Award at the 25th Annual Critics’ Choice Awards. Murphy will be feted for his extraordinary roles over the years, most recently his brilliant portrayal of the legendary Rudy Ray Moore in Netflix’s ‘Dolemite Is My Name,’ for which he is nominated for Best Actor,” the CCA wrote in their official statement.

“Eddie Murphy is the most commercially successful African American actor in the history of the motion picture business and is one of the industry’s top-five box-office performers overall. Murphy is on the very short list of actors who have starred in multiple $100 million pictures over the past three decades, from ‘Beverly Hills Cop’ to ‘Daddy Day Care,’” the statement continued.

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This image released by Netflix shows Eddie Murphy in a scene from "Dolemite Is My Name." On Monday, Dec. 9, 2019, the film was nominated for a Golden Globe for best comedy film and Murphy was nominated for best actor in a motion picture comedy for his role in the film. (François Duhamel/Netflix via AP)

Most recently, Murphy has been acclaimed for his portrayal of Rudy Ray Moore in “Dolemite Is My Name,” which was released in November.

Alongside Murphy’s headline-making role in the Netflix original, the 58-year-old made his long-awaited return to “Saturday Night Live” earlier this month, after 35 years. His appearance made headlines when he took the time to poke fun at embattled former comedian and convicted sex offender Bill Cosby.

"If you would have told me 30 years ago that I would be this boring, stay-at-home house dad and Bill Cosby would be in jail... I would have took that bet," Murphy said. "Who is America's dad now?"

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Murphy initially rose to prominence as a cast member on "SNL" from 1980 to 1984, but distanced himself from the program after comedian David Spade made a joke about his movie career back in 1995, saying, "Look, children, it's a falling star!" Rolling Stone magazine reported.

Murphy is currently set to appear in "Coming 2 America" in 2020, the sequel to 1988's "Coming to America" in which he played the lead role of a wealthy African prince.

Fox News’ David Aaro and Melissa Roberto contributed to this report.