Vin Diesel and his Fast & Furious franchise co-stars are set to be honored with the Generation Award at the 2017 MTV Movie & TV Awards.

The top accolade is typically presented to an individual entertainer to celebrate an artist's body of work that "speaks directly to the MTV audience", but this year, ceremony officials have decided to celebrate the cast of the hugely successful street racing blockbusters.

Action man Vin will accept the prize on 7 May (17), along with co-stars including Michelle Rodriguez, Tyrese Gibson, and Jordana Brewster, according to Deadline.com.

They will follow in the footsteps of previous Generation Award honorees Mark Wahlberg, Will Smith, Reese Witherspoon, Johnny Depp, and Sandra Bullock, among others.

The annual event, which will take place in Los Angeles, will be hosted by comedian Adam Devine and will feature the first live TV performance of Pitbull, J Balvin, and Camila Cabello's hit collaboration Hey Ma, which features on the soundtrack to the latest Fast & Furious movie, The Fate of the Furious.

The awards news emerges a week after reports suggested Dwayne Johnson and Jason Statham had landed their own Fast & Furious spin-off movie. The stars are said to be in talks to reunite with franchise screenwriter Chris Morgan for the project, which will center on Johnson's character, U.S. Diplomatic Security Agent Luke Hobbs, having to team up with Statham's terrorist-turned-vigilante Deckard Shaw after they are targeted by the same enemy.

The spin-off will reportedly be developed while bosses at Universal Pictures work on ideas for the ninth movie in the action film series.