Making his feature film debut in 1966 with "Here's Your Life," Troell quickly rose to prominence after dramatizing Swedish writer Vilhelm Moberg's novels "The Emigrants" and "The New Land."
They told the story of a poor Swedish family's move to America in search of a better life and earned Troell and his team several Oscar nominations.
Troell, 81, has produced dozens of pieces and worked alongside actors such as Max Von Sydow.
He will receive the award at a Stockholm ceremony during the Nov. 7-18 film festival.
(Copyright 2012 by The Associated Press. All Rights Reserved.)