Norris held his nerve in a tense battle with McLaren team-mate Oscar Piastri and four-time champion Max Verstappen to win the 2025 championship.
The 26-year-old held off some strong competition to scoop the award, with fellow Britain Luke Littler, the darts world champion, among the nominees.
“Winning the world championship is something I dreamed about since I was young, so to win my first in 2025 is pretty special,” Norris said.
“It’s far from being an individual achievement. Without my team, who were also nominated for a Laureus Team of the Year award, I wouldn’t be where I am today.”
Carlos Alcaraz was named Sportsman of the Year, with fellow tennis player Aryna Sabalenka earning the sportswoman award.
Alcaraz, 22, won eight ATP Tour titles, including two Grand Slam events, and ended 2025 ranked as the world number one as he beat rival Jannik Sinner to the award.
Sabalenka, 27, added a second US Open crown to her collection as she collected four WTA titles last year.
England’s women were in the running for Team of the Year after winning Euro 2025 but the award went to men’s Champions League winners Paris St-Germain.
British cyclist Tom Pidcock missed out on the Action Sportsperson of the Year award, with American snowboarder Chloe Kim taking the honour.