Lindsay Lohan's Biggest Comeback Award -- Wins Italian Acting Award -- Seriously.

Lindsay Lohan doesn't hear the words, "and the award goes to ..." very often ... she heard it Tuesday ... when she took home a trophy at a film festival in Italy. We kid you not.

Lindsay was honored with the Biggest Comeback Award at the Ischia Global Film & Music Fest. She even showed up to collect her hardware and make a brief acceptance speech -- 'cuz you never know if that opportunity's ever gonna come around again.

We're not exactly sure what comeback they're talking about ... her recent acting work has been limited to TV ... and her last film was "The Canyons" -- which grossed $56K.