De Niro will preside over the nine-member panel for the 64th annual festival, which runs May 11-22. The actor is no stranger to the power of the Palme d'Or, with two of his films, Taxi Driver and The Mission, taking home the coveted prize.
Cannes organizers said they selected De Niro as the jury president in part to pay tribute to his work founding the Tribeca Film Festival, which celebrates its own 10th anniversary this year.
"The Cannes Film Festival is a rare opportunity for me as it is one of the oldest and one of the best in the world," the 67-year-old said in a statement.
We're guessing the free trip to the French Riviera probably wasn't a deal-breaker, either.