The list, to be launched at London's Barbican Centre on July 13, was compiled after the institute canvassed its staff and a clutch of European film organisations.
It is intended to provoke debate among an audience of children's authors, film directors, government officials and the public.
Amanda Nevill, the BFI's director, said: "It would be unimaginable that children leave school without studying classic novels. The same should be true of films."
But children's author Melvin Burgess, who adapted Stephen Daldry's Billy Elliot film into a novel, said: "A list of books that children should have to read is a bit dodgy. The same is true of films. It is disappointing there is no sci-fi."
* TES readers are invited to join the debate with their choice of top five films that children should see by age 14. They don't have to be specifically designed for children, just a great viewing experience. Visit www.tes.co.uktopfilms and you could win pound;100 of vouchers to spend on DVDsvideos at Movie Mail. Ten runners-up will win pound;50 vouchers.
Tickets for the July 13 launch can be booked on 0845 120 7527