The event Organisers say that the 78-year-old will attend the award ceremony to receive his award which he was should have picked up in 2009.
Swiss police arrested Polanski on his arrival in the country over his 1977 US conviction for having sex with a 13-year-old girl.
He was held for 10 months before the Swiss courts decided that they wouldn't extradite him.
The award is due to be handed over on September 27th.
Directors of the Zurich Film Festival, Karl Spoerri and Nadja Schildknecht, said: "We are especially proud to welcome Roman Polanski this year to receive his award.
"We have always been tremendous admirers of his work and we are delighted that we will soon be able to express this to him in person," they added.
The Zurich Film Festival runs from 22 September to 2 October.
