At a glittering ceremony held at the Emirates Palace in Abu Dhabi and hosted by American actor Kevin Spacey, Olympic gold medallist sprinter Usain Bolt was named the Laureus World Sportsman of the Year for the second consecutive year on Wednesday.

Sizzling tennis star Serena Williams, who bagged two Grand Slam titles - Australian Open and Wimbledon - last year won the Sportswoman of the Year Award and now stands only second to Roger Federer, who has so far won the Laureus Award four times.

Williams had won the Laureus Comeback Award in 2007, while Federer won the Laureus Sportsman of the Year award from 2005-2008.

Reigning Formula One champion Jenson Button won the Breakthrough of the Year Award, while his last year's team Brawn GP was named Laureus World Team of the Year.

Belgium's tennis sensation Kim Clijsters, who shocked the world by winning the US Open after returning from retirement, won the Laureus Comeback of the Year Award.

Button said he was happy as this honour rounds off his impressive last season.

"It's great to be here and win this award. It has been an exceptional season. I am 30 and I won the breakthrough award. This rounds off my last season with Brawn GP and from tomorrow my new season will start with new team McLaren," Button said.

South African swimmer Natalie Du Toit, who won five gold medals in the 2008 Summer Paralympics, won the Laureus Disability Award.

Academy member Nawal El Moutawakel received the Laureus Lifetime Achievement Award for her work for women in sport and the International Olympic committee.

Australia's three-time World surfing champion Stephanie Gilmore was named Laureus World Action Sportsperson of the Year.

The Sport for Good Award went to American basketball legend Dikembe Mutombo for his charitable work in his native Congo.

The Awards Ceremony which also celebrated the first 10 years in the life of Laureus was attended by global figures from the world of sport and entertainment.

The guest-list for the annual sports awards included sporting figures like England all-rounder Andrew Flintoff, former F1 champion David Coulthard and world boxing champion Amir Khan.

The other guests included Olympic rowing legend Steve Redgrave and supermodel Jessica Michibata.

Also present at the awards were members of the Laureus World Sports Academy including icons like Franz Beckenbauer, Boris Becker, Ian Botham, Sergey Bubka, Nadia Comaneci, Kapil Dev, Emerson Fittipaldi, Cathy Freeman, Mika Hakkinen, Monica Seles, Daley Thompson, Alberto Tomba and Steve Waugh.