WARREN BEATTY received the American Film Institute's highest honor Thursday night, and ET was there to salute the veteran star! Plus, we got the scoop about the man himself from JANE FONDA, FAYE DUNAWAY, CHEVY CHASE, EVA MARIE SAINT, DIANE LADD and wife ANNETTE BENING.

Beatty received the 36th AFI Life Achievement Award for his body of work as a producer, writer, director and star that includes such celluloid favorites as 'Bonnie and Clyde,' 'McCabe & Mrs. Miller,' 'Shampoo,' 'Reds,' 'Heaven Can Wait,' 'Dick Tracy' and 'Bugsy.' He joins such previous winners as HARRISON FORD, CLINT EASTWOOD, DUSTIN HOFFMAN, STEVEN SPIELBERG, ALFRED HITCHCOCK and good pal JACK NICHOLSON.

The AFI Life Achievement Award recipient is determined by the AFI Board of Trustees to be someone "whose talent has in a fundamental way advanced the film art; whose accomplishment has been acknowledged by scholars, critics, professional peers and the general public; and whose work has stood the test of time." The award is bestowed annually.

Over the course of his career, Beatty has been nominated for a total of 15 Academy Awards, winning his sole statuette for directing 'Reds' and earning the Academy's prestigious IRVING G. THALBERG Memorial Award in 2000.

Thursday's tribute will air on the USA Network on Wednesday, June 25.