Harvey Weinstein has been stripped of his British Film Institute fellowship, which he received in 2002.
The BFI awards the title to individuals to recognise their contribution to film and television culture.
It comes after a number of sexual assault and harassment allegations were made against the producer.
Weinstein has "unequivocally denied" the allegations and says all relationships he had were consensual.
The award is considered the highest accolade presented by the BFI.
The BFI said the fellowship was "the highest honour we can bestow", adding "the serious and widespread allegations about Harvey Weinstein's appalling conduct are in direct opposition to the BFI's values".
It said sexual harassment, abuse and bullying are "unacceptable under any circumstances" and that everyone working in the film industry or any other workplace "should be safe and respected".
"We wholeheartedly support those brave enough to come forward and speak out. The film industry needs more women represented on every level, on and off-screen."
The first BFI fellowships were made in 1983, but they are not regularly awarded. The most recent fellowships were awarded to Peter Morgan and Paul Greengrass earlier this year.
There have been a number of allegations made against Weinstein including rape, sexual assault and harassment.
Lena Headey, Lauren Holly and Lysette Anthony are the latest actresses to come forward and speak out against the producer.
This has also lead to other prominent Hollywood figures speaking about Hollywood culture, with Jennifer Lawrence and Reese Witherspoon among those to speak about their experiences of assault and harassment.