Sarada, who has won National Award three times, began her career in 1950s and went on to act in a number of films in Telugu, Malayalam and other south Indian languages.
A committee of film personalities, headed by noted producer G Adiseshagiri Rao, selected Sarada for the NTR Award, officials said. The panel also selected other prominent movie personalities for different awards.
Noted Telugu director B Narsing Rao, who made some critically-acclaimed films, was chosen for the B N Reddy National Film Award.
Leading film producer A V M Saravanan won the Nagireddy-Chakrapani National Film Award. The Raghupati Venkaiah Award was announced for senior actor, producer and director M Balaiah.
Yedida Nageswara Rao, who produced award-winning films like `Sankarabharanam`, would get the Special Jury award. The awards would be presented by Andhra Pradesh Chief Minister N Kiran Kumar Reddy on Telugu New Year `Ugadi` on March 23.