Meryl Streep, Ralph Fiennes and James Earl Jones joined the Academy of Motion Picture Arts and Sciences' tribute to Redgrave's 50-year career.
The 74-year-old actress has been nominated for six Oscars and won for her supporting role as an anti-Nazi activist in the 1977 film, "Julia."
Redgrave is currently starring in London's West End alongside Jones in "Driving Miss Daisy."
Other Oscar recipients were awarded during the Governor's Ball in Los Angeles on Saturday. Jones and makeup artist Dick Smith, who is known for his work in "The Godfather" and "The Exorcist," were honored. Oprah Winfrey also received the Jean Hersholt Humanitarian Award, an Oscar that honors contributions to humanitarian causes.
The Associated Press contributed to this report.