The awards celebrate accomplishments in the realm of entertainment, with categories for film, television and music all included.
The prize is a huge honour for Michael, who was diagnosed with Parkinson's disease in 1991 and has now part-retired from acting. He is also known for appearances in popular US shows such as Family Ties and Spin City, and his new honour will see him join the ranks of A-list actors Clint Eastwood, Robert De Niro and Jack Nicholson who have all previously received the accolade.
The Golden Cameras ceremony is now in its 46th year, and is Germany’s most-watched awards programme. It is expected up to six million viewers will see Michael receive his award.
Hollywood star John Travolta will also be honoured at this weekend’s ceremony as the best international actor.