The actress, who made her debut in 1959 with "Dil Deke Dekho", became one of the sought after actresses in the 1960s and 1970s. She has been part of hits like "Jab Pyar Kisise Hota Hai", "Love in Tokyo", "Do Badan", "Teesri Manzil, "Kati Patang", "Aan Milo Sajna" and "Caravan".
In 1992, she was awarded the Padma Shri.
"We are honoured to confer the Lifetime Achievement Award to Asha Parekh. Her films have been loved and celebrated by millions of cinema lovers in India. We are humbled that she has agreed to receive the award," the official spokesperson of the fifth Jagran Film Festival said in a statement.