The actress, who is a dual Israeli-American citizen, was to receive a prestigious award in Israel in June.
The announcement doesn't specify what exactly made Portman change her mind.
While Portman declined further comment, the decision comes as an apparent response to mass protests on the Gaza-Israel border that saw scores of Palestinians shot dead by Israeli Defense Forces and more than 1,000 injured, and her ongoing opposition to Prime Minister Benjamin Netanyahu.
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"I was sorry to hear that Natalie Portman has fallen like ripe fruit to the hands of BDS supporters", Regev said in a statement given to Israeli journalists. Thirty-one Palestinians have been killed and hundreds more wounded. "Portman, a Jewish actress born in Israel, joins those who tell the successful, wondrous founding of the State of Israel as 'a tale of darkness and darkness'". In addition to The Genesis Prize, it is given to the person who is considered an inspiration to the next generations of Jews by their commitment to Jewish values, charity, tolerance, and social justice, according to the website of the Foundation.
The award aims to recognize Jewish contributions and achievements in all areas of life. Previously, the United States actor already expressed her political views, voicing her opposition to the re-election of Benjamin Netanyahu and distancing herself from an email drive about the Gaza conflict [VIDEO]. Israel's military says its actions are meant to defend its border from attackers posing as protestors who would likely cross the boundary illegally, and therefore harm Israeli communities and soldiers.
A representative for Portman, 36, did not immediately respond.
Omar Barghouti, a co-founder of the pro-Palestinian B.D.S. movement did seize on Portman's decision as a win for his cause, in an email to The New York Times. You know, shit on Israel.