"The #Laureus22 World Sportsman of the Year Award winner is Max Verstappen. Max won his first Formula 1 Championship in thrilling style in 2021," Laureus said on Twitter.
Verstappen, 24, bagged 10 Grand Prix wins last season and a record 18 podium finishes.
Established by the Laureus Sport for Good Foundation in 1999, the Laureus World Sports Awards is an annual award ceremony that honors sports individuals and teams for their achievements throughout the year.
This year's awards ceremony was held virtually from Seville, Spain.
Jamaican sprinter Elaine Thompson-Herah won the Laureus World Sportswoman of the Year for her triple gold medals in the Tokyo 2020 Olympic Games.
Thompson-Herah, 29, won gold medals in the 100-meter and 200-meter dashes and the 4x100 meter relay.
She recorded a 10.61-second win to set an Olympic record at the Tokyo Games, which were held in 2021 due to the coronavirus pandemic.
In addition, Bayern Munich's Polish forward Robert Lewandowski was honored with the Exceptional Achievement Award for his individual performance in the 2020-21 football season.
Lewandowski, 33, scored 41 goals in the German Bundesliga last season to surpass club legend Gerd Muller, who was the previous record holder in this field.
NFL veteran Tom Brady, 44, took the Lifetime Achievement Award. In March, Brady ended his retirement to return to play the game.
He previously said on Twitter that he is "coming back" for his 23rd season in American football.
Brady won seven Super Bowl titles, and he is also a 15-time NFL All-Star. He was also named the Super Bowl MVP (Most Valuable Player) five times.
In addition, the Italian national football team was named the World Team of the Year for their UEFA EURO 2020 success.
Roberto Mancini's men were crowned the EURO 2020 champions after they beat England on penalties in the final at London's Wembley Stadium.
The latest European football championship was originally scheduled for the summer of 2020 but was postponed to 2021 due to the COVID-19 pandemic.
