He's already conquered television and film, now Will Ferrell will join the ranks of comedy royalty such as George Carlin, Richard Pryor and Bill Cosby as the 14th recipient of the Mark Twain Prize. The award, which is named for the famous writer and honors the best of American comedians, will be presented to Ferrell on October 23 at the Kennedy Center Concert Hall in Washington, D.C.

In response to the news, Ferrell released a statement saying, "I am truly honored to receive this distinction. I will now begin cultivating a Mark Twain-esque moustache in anticipation of the event."