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Bafta chairman of Bafta, John Willis, paid tribute to the Queen for her "outstanding patronage of the film and television industries" during a special reception at Windsor Castle.
Willis thanked her for her "tireless support", before going on to praise her "starring role" in last year's London Olympics.
The Queen appeared honoured and somewhat shocked to be awarded a Bafta this evening in recognition of her contribution to the film and television industry.
Bafta chairman John Willis made the announcement during a reception at Windsor Castle.
The Queen received an honorary Bafta tonight in recognition of a lifetime's support of British film and television, and for being the most "memorable Bond girl yet."
Hollywood star Sir Kenneth Branagh presented the award at Windsor Castle.
John Willis, chairman of Bafta, paid tribute to the Queen for her patronage of entertainment bodies and charities throughout her reign.
He drew laughter from the audience when he referred to the Queen's now famous role alongside James Bond during the opening ceremony of the Olympics when she appeared to parachute into the stadium with 007.
The Queen and Duke of Edinburgh will be joined by stars of stage, screen and television to celebrate the British film industry this evening.
Sir Kenneth Branagh, Sir Christopher Lee, and Downton Abbey writer Julian Fellows are some of the famous faces expected to attend the glittering reception at Windsor Castle.
As part of the celebration the Royal family have released archive footage of the first Christmas message broadcast on television. The broadcast was filmed live at Sandringham in 1957.
The Royal family have released a film clip from a home video made at Balmoral Castle during the summer of 1952.
The clip, released via their YouTube channel, shows Sir Winston and Lady Churchill with members of the Royal Family, including Queen Elizabeth, and Prince Charles.
The clip will be shown to The Queen's guests at a reception for the British Film Industry.
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Her Majesty appeared delighted to receive an honorary Bafta in recognition for her "outstanding patronage" of film and TV industries.