Honorees include Mariah Carey and Jeremy Renner, who will receive breakthrough performance awards.
Carey will receive her award from director Lee Daniels for her performance in the film "Precious: Based on the Novel Push by Sapphire," while Renner will be presented his award by "Flash Forward" actress Shohreh Aghdashloo for his work in the war thriller "The Hurt Locker."
Eastwood will present Freeman, star of "Invictus," with the male career achievement award. Freeman will then present Helen Mirren, who plays Russian author Leo Tolstoy's wife in "The Last Station," with the female career achievement award.
"Inglourious Basterds" director Quentin Tarantino will be presented the Sonny Bono Visionary Award by cast member Diane Kruger.
Other stars who will be honored are:
- French actress Marion Cotillard, who will receive the female Desert Palm Achievement Award for her performance in the musical "Nine"
- Anna Kendrick will be given the Rising Star Award for her role in "Up in the Air"
- T Bone Burnett, who will be presented the Frederick Loewe Award for Film Composing for "Crazy Heart"
- Jason Reitman, who will receive the Director of the Year Award for "Up in the Air"
- Jeff Bridges, who will be given the male Desert Palm Achievement Award by Pfeiffer for "Crazy Heart."
The festival, which features more than 150 films from about 60 countries, will run through Jan. 18 at theatres throughout Palm Springs.
More information on screening times and a list of films is available at www.psfilmfest.org.