Sir Alex Ferguson was named the best manager in the Premier League's 20-year history and Ryan Giggs won the best player award at a ceremony in central London.
Ferguson was not in London and chief executive David Gill picked up the award on his behalf, but Giggs was present to accept his honour - which saw him beat off competition from the likes of Thierry Henry, Paul Scholes and Dennis Bergkamp to clinch the vote from a panel of experts.
The Welshman has made 909 appearances for United and is the most decorated player in the English game, while Ferguson has won 12 Premier League titles since he took over at the club in 1986.
Former Manchester United team-mate Gary Neville said of Giggs: "Ryan Giggs will go down as the most successful British footballer of all time and I cannot see anyone ever overtaking him.
"He has surpassed all records in terms of domestic titles and he has incredible desire, quality and spirit. He's just fantastic to watch every single week."
Ferguson pipped Arsene Wenger, Jose Mourinho, Harry Redknapp and David Moyes to the manager's award.
Record Premier League goalscorer Alan Shearer said of the Scot: "How he's achieved what he has done over the past 20 years I think is absolutely incredible, so we all have to stand up, salute, admire and congratulate him."
Shearer received an award for the most Premier League goals (260), while David James received a prize for the most Premier League clean sheets (173).
The panel's elect team of the last 20 seasons was named as: Peter Schmeichel; Gary Neville, Tony Adams, Rio Ferdinand, Ashley Cole; Cristiano Ronaldo, Paul Scholes, Roy Keane, Ryan Giggs, Thierry Henry, Alan Shearer.
Source: PA
Source: PA