'The Quad God' beat out fellow nominees Sakamoto Kaori and Uno Shoma. Brian Orser was honoured with the 'Lifetime Achievement' award, while Deanna Stellato-Dudek claimed the 'Special Achievement' for her continued comeback.
Ilia Malinin's winning ways have extended to off the ice, too.
The reigning Grand Prix Final champion was named 'Most Valuable Skater' on Sunday (11 February) at the 2024 ISU Skating Awards, which were held in tandem with the Art on Ice exhibition gala in Zurich, Switzerland.
Malinin, 19, joined Hanyu Yuzuru (2020) and Nathan Chen (2023) on the award's roll of honour.
"It feels incredible," a breathless Malinin told host Kurt Browning on the award's livestream.
Malinin won the award in part for his continued promotion of the sport, saying about his fans: "It really means a lot to include them in what we do. It's important for me to show people my personality away from competition when I'm focused and in tunnel vision."
Reigning world champions Uno Shoma and Sakamoto Kaori were the other nominees in the 'Most Valuable' category.
France's two-time European champion Adam Siao Him Fa captured the 'Most Entertaining Program' for his stirring medley free skate.
Meanwhile, 40-year-old Deanna Stellato-Dudek was handed the 'Special Achievement' award as the pairs skater continues her remarkable comeback having left the sport for 16 years.
"I'm surprised," said Stellato-Dudek, who just won the Four Continents title with partner Maxime Deschamps. "I'm very, very emotional for all the support. I'm honoured to be recognised for my hard work."
Calgary 1988 Olympic silver medallist Brian Orser received the 'Lifetime Achievement' award having subsequently guided the likes of Hanyu and Javier Fernandez to global success.
He said, "You think about 'lifetime achievement' and so many things come to mind. I think about my skating and competing, but I was also a judge, I was a [show] performer, directed and choreographed shows and have worn a lot of hats. And then I got into coaching."
Among the other award winners were 'Best Costume' for European champion Loena Hendrickx with Yoshida Hana named 'Best Newcomer'; 'Best Choreographer' to Benoit Richaud; and Hamada Mie as 'Best Coach'.