Double Olympic champion Dame Kelly Holmes has been crowned Laureus World Sportswoman of the Year in Estoril.
The 35-year-old was honoured for winning the 800m and 1500m at the 2004 Athens Olympics.
Roger Federer won the men's category after winning the Australian Open, Wimbledon and the US Open in 2004.
British yachtswoman Ellen MacArthur was named Alternative Sportsperson of the Year after breaking the round-the-world sailing record.
Holmes won a category which included Russian pole vaulter Yelena Isinbayeva, Swedish athlete Carolina Kluft, Russian tennis star Maria Sharapova and Swedish golfer Annika Sorenstam.
It was the 27th award the British athlete has picked up since her double gold in Athens.
"When I looked at the list (of nominees) I just thought 'Wow'," said Holmes.
"I was just pleased to be nominated. It's the Oscars of sport and you just don't expect to be nominated, let alone win it."
Federer fought off competition from cyclist Lance Armstrong, runner Hicham El Guerrouj, swimmer Michael Phelps, Moto GP world champion Valentino Rossi and Formula One star Michael Schumacher.
Italian racing driver Alessandro Zanardi, who lost both legs in a racing accident in 2001 but completed a full touring car season last year, won the Comeback of the Year award.
Paula Radcliffe, who dropped out of the Olympic marathon but went on to win in New York, and the England cricket team, who won 11 out of 12 Tests in 2004, were among the nominees.
Canadian athlete Chantal Petitclerc, winner of five wheelchair gold medals at last year's Paralympics, won the disabled sportsperson's award.
She beat, among others, British dressage rider Lee Pearson, who won three Paralympic golds in Athens.
The Boston Red Sox, who last year won baseball's World Series for the first time in 86 years, won a special Spirit of Sport Award.
Euro 2004 champions Greece won the team award, beating the Europe Ryder Cup team, who had been nominated for their record 2004 win over the United States.
Chinese Olympic gold medal-winning hurdler Liu Xiang triumphed in the newcomer category, which included English boxer Amir Khan, who reached the Olympic lightweight final in Athens.
The awards are decided by the Laureus World Sports Academy, a jury of 40 of the greatest sportsmen and sportswomen of all time.