British pop veterans Blur have seen off competition from fellow reformed rockers the Stone Roses to be named the best live act at the Q Awards.
The band, who headlined the 2012 Olympic Games closing concert on August 12, released their debut album 21 years ago and racked up 13 top 10 hits.
They picked up the award at a ceremony in central London on Monday, but lost out to Muse in the race to be named the best act in the world.
The awards, hosted by comic Al Murray, saw wins for acts including Plan B, Pulp and soul veteran Bobby Womack.
Emeli Sande, who starred in the Olympic closing ceremony, was named best solo artist, while Smiths guitarist Johnny Marr was named a Q hero.
Dance duo Underworld, whose music provided much of the soundtrack to the Olympic opening ceremony, were given the Q innovation in sound award.
The magazine's editor Andrew Harrison said: "It's been the most incredible year for British music. Our bands and our anthems transformed the Olympics.
"A string of great albums announced fantastic new talent on the scene. And amazing comeback shows from Blur and the Stone Roses showed the enduring appeal of our best-loved musicians.
"Q is proud to raise a glass (perhaps a bottle of our very own Q Red Label Beer) to salute the artists that make Britain the world capital of rock and roll."
After picking up the best act in the world trophy, Muse frontman Matt Bellamy said the band's success was something he had always dreamt of.
"The thing I'm most happy about is that the band has been through so much together since we started in high school at about 15 years old. We've been through all the craziness that you can imagine.
"The fact that we've kept together and our priority is our friendship together above everything else, that's what I'm most proud of."
Not all of the winning acts were able to celebrate together.
Django Django's Vincent Neff and Tommy Grace had to accept their best new act gong without bandmates Jimmy Dixon and David Maclean, who got stuck in London traffic.
"The other two are in a cab on their way through Camden. They're going to be ripping to have missed it," said singer Neff.
Grace added: "I can't believe we've managed to make it this far but we can't even manage to get here in time. Unbelievable."
Q hero Johnny Marr said it was "nice to be appreciated after all these years".
"Everybody likes getting a pat on the back, don't they, especially when you look out and there's people in the room that you respect," he said.
Asked why he had been given the prestigious accolade, Marr said: "It's all about the haircut, obviously."
Keane singer Tom Chaplin, whose band picked up the best video award for Disconnected, confessed that he usually hates filming music videos.
"I find them painful to make. This was the only one that we've ever made that wasn't just really painful - I hate being scrutinised and so having cameras on you all day and being in that space where everyone's looking at you and expecting you to be charismatic is kind of terrifying."
Fresh from a performance on last night's X Factor results show, Sande - who also picked up the critics' choice prize at this year's Brit Awards - said she was still pinching herself at how well the past 12 months have gone.
"This year's been more than I could ever have imagined and I'm very happy," she said.
"This award is just really exciting. Q has shown me such great support since the beginning so it's really great to be here a year later."
THE Q AWARDS 2012 WINNERS:
Best new act: Django Django
Best track: Ill Manors, Plan B
Best album: The Bravest Man In The Universe, Bobby Womack
Best live act: Blur
Best video: Disconnected, Keane
Best solo artist: Emeli Sande
Best act in the world today: Muse
Q classic song: Walk On By, Dionne Warwick
Q spirit of independence: The Cribs
Q innovation in sound: Underworld
Q inspiration award: Pulp
Q icon award: Dexys
Q classic album: Generation Terrorists, Manic Street Preachers
Q hero: Johnny Marr
Q idol: Brandon Flowers