The Oscar Wilde awards will be held in Los Angeles next March at Bad Robot, the HQ of Lost and Star Wars honcho JJ Abrams and wife Katie McGrath.
The bash celebrates the work of those from Ireland as well as those who contribute to the world of film, television and music.
The event is traditionally held three days before the Academy Awards ceremony.
US-Ireland Alliance founder Trina Vargo said, “we’re delighted to honour Richie – not only is he creatively exceptional but he is also beloved in the industry as someone who has always remained connected to his colleagues and friends in the film and animation industries in Ireland.”
Baneham is a graduate of art and design at Ballyfermot College, and moved to Los Angeles in 1994 to pursue a career in the film industry.
Baneham’s career began as an animator on classic 90s films such as Space Jam and The Iron Giant before making the jump towards CG on Peter Jackson’s seminal Lord Of The Rings series.
The Tallaght man was subsequently tapped to work in the visual effects department for James Cameron’s seminal sci-fi blockbuster Avatar, winning an Oscar for his work in 2010.
He added to his haul earlier this year for his work on the sequel, and served as visual effects supervisor on the box office smash.
Baneham snuck a cúpla focail into his Oscar acceptance speech this year, saying “go raibh míle maith agat to James Cameron, whose artistic thumbprint is on every frame of this movie.”
To mark his win, An Post turned postboxes around Ballyfermot and Tallaght gold.
“Our postboxes have seen everything down through the years but not many get the chance to celebrate a genuine world-beater like Richie,” An Post said at the time.
Screen Ireland congratulated Baneham on his win, dubbing him “one of the world’s best VFX artists, and a prime example of Irish talent making an enormous impact on international film.”
Previous recipients of the Oscar Wilde award include Ruth Negga, Saoirse Ronan, Jamie Dornan, Brendan Gleeson, and Colm Meaney.