"Valerie's achievements inspire millions of New Zealanders. She is also very engaged with young Kiwis, encouraging them to be active and healthy," said Smith.
"Her success on the world's stage speaks for itself and her ability to remain at the top of her game is testament to her sheer determination to excel."
Adams herself was honoured to receive the Lonsdale Cup after a challenging year. "This is such a privilege and honour and I am very humbled," she said.
"While it's been a difficult year for me this year, there have been some special highs along the way including the honour of carrying the New Zealand flag at the Commonwealth Games. Receiving the Lonsdale Cup is another highlight for me this year. I really want to thank the New Zealand Olympic Committee for this special award."
Adams won the Lonsdale Cup in 2006, 2007, 2011 and 2013 and was the first person to be awarded the award for a third, fourth and fifth time.
The Cup was first presented in 1961 to Sir Murray Halberg. Since then it has been awarded to outstanding New Zealand athletes including Sir John Walker, Sir Peter Snell, Barbara Kendall and Rob Waddell.
The Cup is sterling silver and of historic value, having its origins in a 1911 sporting festival between the United Kingdom, Canada and Australasia held to honour the accession of George V.
The Lonsdale Cup winner is selected by New Zealand Olympic President's Council (business and sporting leaders) and the New Zealand Olympic Committee Board.