The government award is India's highest honour given in the field of cinematic art. Amitabh has been honoured with the award for inspiring generations with his diverse work.
The official Twitter handle of the Press Information Bureau (PIB) shared a video of Big B receiving the award amid loud applause. He attended the ceremony with his wife and actress Jaya Bachchan and son and actor Abhishek Bachchan.
The 77-year-old actor was earlier supposed to receive the honour at the National Film Awards ceremony, held here last week. He skipped the film award ceremony owing to health issues.
In September, Union Information Minister Prakash Javadekar announced that Amitabh will be awarded with the award.
"The legend Amitabh Bachchan who entertained and inspired for two generations has been selected unanimously for Dadasaheb Phalke award. The entire country and international community is happy. My heartiest Congratulations to him," Javadekar tweeted at that time.
Amitabh started his journey in showbiz as one of seven protagonists in "Saat Hindustani", and then went on to feature in the Rajesh Khanna-starrer "Anand".
Once he got noticed in Prakash Mehra's 1973 hit, "Zanjeer", there was no looking back. The film also marked the birth of his Angry Young Man avatar.
Amitabh Bachchan means different things to different fans. Some remember him as the towering lead in films like "Deewaar", "Zanjeer", "Don" and "Sholay", while some appreciate his nuanced, National Award-winning portrayals in "Black", "Paa" and "Piku". There are fans who celebrate him for his comic timing, while others swear by his intense screen presence.
From touching the pinnacle of stardom to facing failure in his days of bankruptcy and then bouncing back in the game and seeing a meteoric rise Big B, as Bollywood and fans fondly call him, has seen it all.
His upcoming projects include "Chehre", "Gulabo Sitabo", "Brahmastra" and "Aankhen 2".
( With inputs from IANS )