The festival told Variety it was honouring Delon because “he is a legendary actor and part of Cannes history”.
Earlier at the festival, 82 women had staged a protest on the red carpet.
This year, the Cannes film festival is rolling out an initiative called Le Ballon Rouge – named after a children’s film by Albert Lamorisse – which offers a package of services aimed at making the festival more attractive to families.
The innovations are part of the festival’s modernisation process, in response to the Harvey Weinstein scandal and the #MeToo movement.