In a statement, the prize jury praised the 73-year-old for successive performances in which she brings life to richly complex female characters.
Streep has performed in more than sixty movies, acquiring iconic status for roles from a Nazi concentration camp survivor to an Abba-singing mother.
The fifty thousand euro award is one of eight prizes covering the arts, science and other areas that are handed out annually by the foundation named for Spanish Crown Princess Leonor.
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