James Cameron discussing 3-D filmmaking in Asia earlier this year.

Credit: AP Photo

Call it producer's envy and appreciation.  The Producer's Guild of America are awarding their most prestigious honor to arguably the most successful filmmaker and producer in history, James Cameron.  The "Avatar" and "Titanic" producer and director will be awarded the 2011 Milestone Award during the 22nd Annual Producer's Guild Awards ceremony on Saturday, Jan. 22, 2011. 

In a statement from the PGA, Paula Wagner, Chair of this year's event said,"“James Cameron is an exceptionally talented producer—a true innovator with the rare combination of technical ingenuity and creative vision. Jim has continued to change the film landscape with his ability to deliver groundbreaking masterpieces that present audiences and the industry with unrivaled beauty, originality and impact.”

In recognizing Cameron, the guild isn't just acknowledging his milestones at the box office or his boatload of Academy Awards and nominations, but his achievements in underwater filming, visual effects and in the advancement of 3-D filmmaking.  In fact, it's clear "Avatar" is partially responsible for the 3-D boom that has swept the industry over the past 18 months and provided substantial returns for his peers.  Need we say more?

While sequels to "Avatar" are still a bit down the road, Cameron has recently announced he'll be producing Guillermo Del Toro's "Mountains of Madness" for Universal Pictures.

The Producer's Guild of America Awards will be handed out on Jan. 22 at the Hyatt Regency Century City Plaza in Los Angeles.