Mulligan stars in the drama, directed by Emerald Fennell, as Cassandra Thomas, a young woman who risks her life to avenge the death of her best friend.
According to editors at Variety, the festival and film awards gala will not be held as in-person events this year (21). However, the actress is among a selection of honourees being recognised for their stellar performances, organisers announced.
"This is a thrilling black comedy that tells an entertaining story of female power," festival chairman Harold Matzner, told the news outlet. Mulligan previously received the festival's breakthrough performance award in 2011.
Previous recipients of the International Star Award include Nicole Kidman, Helen Mirren, and Saoirse Ronan. Mulligan is now a favourite for the Oscar glory as last year's honouree, Charlize Theron, gained an Oscar nomination for her role in movie "Bombshell".
The Palm Springs International Film Festival and Film Awards are set to return in 2022 while offshoot Palm Springs ShortFest is still scheduled for 22-28 June.
In the "Promising Young Woman", Carey Mulligan showed off her vocal chops as she covered Paris Hilton's "Stars Are Blind" in the middle of a pharmacy with her onscreen love interest, played by Bo Burnham. While she had no problem with the singing portion of the scene, she was reluctant to show off her dance moves on camera.
"It was probably one of the scariest days of my career, but it was all led by Bo Burnham," she shared on U.S. talk show "Watch What Happens Live". "I initially resisted dancing quite a lot, but he really led the charge."
Carey is unsure if Paris has checked out her song cover, but she would have loved to have connected with the hotel heiress and DJ had they been able to stage a traditional premiere for the film.
"We don't know if she's seen it; I actually don't know if Paris has seen the film," Carey confessed, "and one of the greatest disappointments of this year is not being able to get her to come to a premiere, but I hope she likes it."