The actor-and-director succeeds 'Harry Potter' star Daniel Radcliffe, who received the honour last year, and was bestowed with the accolade as he has finally reached the "pinnacle" of his career.
Appearing on US morning show 'Good Morning America', Entertainment Weekly editor Jess Cagle explained: "We've watched him grow up. He has really reached his pinnacle."
The 40-year-old 'Daredevil' star - who burst onto the acting scene 15 years ago in 'Good Will Hunting' - is delighted with the honour, particularly because he wants to make his family, wife Jennifer Garner, daughters Violet, six, and Seraphina, three, and nine-month-old Samuel, proud.
Ben told Entertainment Weekly: "Being at a place in my life and my career where I know what I'm trying to do, it's different than being 26. When you're younger and have the early success that I had - it sounds like the worst Hallmark cliche - but I didn't have anyone to share it with.
"I don't mean I wanted someone to sit by the fire with. But when you have a family and children, you kind of see yourself reflected in them. I want to make the kinds of movies that my kids are proud of. I have higher standards, in a way, for them."
Fellow Hollywood star George Clooney, 51, praised Ben for re-emerging on the Hollywood A-list after several rocky years, which included starring in numerous widely panned films and a high profile engagement to singer-and-actress Jennifer Lopez, 43, that was eventually called off.
George said: "Hollywood loves a comeback, and he's an unbelievable comeback kid."
Ben has transitioned from in front of the screen to behind it, helming critically-acclaimed films such as 'Gone Baby Gone', 'The Town' and this year's 'Argo', which is being tipped for Oscar contention.