Jake Gyllenhaal, one of the most highly regarded young stars in Hollywood, will receive the Hollywood Supporting Actor Award at the 17th annual Hollywood Film Awards on Oct. 21 at the Beverly Hilton, The Hollywood Reporter has learned.

Previous recipients of the Hollywood Supporting Actor Award include Geoffrey Rush (2003), Matthew Broderick (2005), Ben Affleck (2007), John Travolta (2008), Christoph Waltz (2009), Sam Rockwell (2010), Christopher Plummer (2011) and Robert De Niro (2012).

Gyllenhaal, 32, has amassed a filmography that is striking in its depth and variety, starting with his big-screen debut at age 10 in City Slickers (1991).

His most notable credits include Joe Johnston’s October Sky (1999), Richard Kelly’s Donnie Darko (2001), Nicole Holofcener’s Lovely & Amazing (2001), Brad Silberling’s Moonlight Mile (2002), Miguel Arteta’s The Good Girl (2002), Roland Emmerich’s The Day After Tomorrow (2004), Sam Mendes’ Jarhead (2005), John Madden’s Proof (2005), Ang Lee’s Brokeback Mountain (2005), David Fincher’s Zodiac (2007), Gavin Hood’s Rendition (2007), Jim Sheridan’s Brothers (2009), Edward Zwick’s Love & Other Drugs (2010), Duncan Jones’ Source Code (2011) and David Ayer’s End of Watch (2012).

This fall, Gyllenhaal has earned some of the best accolades of his career — and best supporting actor Oscar buzz — for his portrayal of a detective leading the investigation for a pair of kidnapped kids in Denis Villeneuve’s Prisoners, which premiered at the Telluride Film Festival and screened at the Toronto Film Festival before hitting theaters in the U.S. this past weekend. The Alcon Entertainment/Warner Bros. drama, which also stars Hugh Jackman, among many others, was the weekend’s highest-grossing film at the box office.

The Hollywood Film Awards are determined by founder and executive director Carlos de Abreu and an advisory committee. Last month, the Hollywood Film Awards and Dick Clark Productions, which also produced the Golden Globe Awards, entered into a partnership that could lead to the ceremony being televised in future years. Over the past 10 years, Hollywood Film Awards honorees have gone on to garner a total of 96 Oscar nominations and 34 Oscars.

De Abreu tells THR, “We are thrilled to present the Hollywood Supporting Actor Award to Jake Gyllenhaal for his unforgettable performance in Prisoners. His is a truly compelling, subtly layered portrayal of a man tasked with the impossible and driven by the demons of his own past. Jake has given a myriad of outstanding performances throughout his career. But his work in this film achieves a new level of complexity, as reflected in the rave reviews the film has received.”