Michael Douglas awarded Israel's $1 million Genesis Prize

Actor Michael Douglas has been awarded the $1 million Genesis Prize award, popularly dubbed the "Jewish Nobel Prize," for his efforts to promote Jewish culture.

Prime Minister Benjamin Netanyahu and Jewish Agency Chairman Natan Sharansky will present the award at a ceremony in Jerusalem on June 18 to the "actor, producer and peace activist."

The prize was inaugurated last year in a partnership between the Prime Minister's Office, the Genesis Philanthropy Group and the office of the chairman of the Jewish Agency.

It is awarded to an individual with a commitment to Jewish values, the Jewish community and the State of Israel.

Genesis Chairman Stan Polovets said in a statement issued Wednesday that Douglas was being honored with the 2015 prize for "both for his professional achievements and for his passion for his Jewish heritage and the Jewish state."

Douglas' father, actor Kirk Douglas, is Jewish, and Michael Douglas has embraced his Jewish ancestry and supports Jewish causes. He traveled to Israel last year with his wife, Catherine Zeta-Jones, to celebrate the bar mitzvah of their son Dylan. The foundation praised the family's "inclusive approach for Jews of diverse backgrounds."

The 70-year-old Oscar-winning actor praised his family for encouraging him to explore the Jewish faith. "I hope these teachings and values will be part of the legacy in the world that I leave for my children and those who follow," he said in a statement.

Douglas plans to devote his prize money to promoting inclusiveness and diversity in Judaism.

In 2014, former New York Mayor Michael Bloomberg was the recipient of the first Genesis Prize. Late night comedy legend Jay Leno presented the award to Bloomberg, who was honored for his long record of public service and philanthropy.