The entrepreneur and co-founder of Edinburgh Traverse Theatre, who is pictured in the anatomy dissection of the Summerhall venue, will be the seventh person to be presented with the engraved Loving Cup, with previous winners including Professor Peter Higgs and Sir Chris Hoy.
He has organised hundreds of exhibitions, plays and performances involving artists and academics from nations around the world, and will also have a mould of his hands taken and engraved into a permanent flagstone in the City Chambers quadrangle.
Lord Provost Donald Wilson said his "tireless work to promote and present art from around the globe has doubtlessly enriched the Scottish art scene".
Professor Demarco said: "I regard this award as an honouring of all the artists and art patrons who collaborated with me."
Picture: Gordon Terris