The Taiwanese-born director won the award in 2007 for "Lust, Caution," and in 2005 for "Brokeback Mountain," for which he also won a best directing Oscar.
The festival made the announcement Friday. Last year's jury was headed by German film director Wim Wenders.
This year's film festival will be held Sept. 2-12. For more video about Italy visit WebVisionItaly.com.