This is the third time the event has won the award. It has also won two Australian Tourism Awards and will be inducted into the national Hall of Fame if it wins again in February.
Now in its 23rd year, the week-long event attracts thousands of yachting enthusiasts each August.
From chartered yachts to top of the range maxis, the regatta offers seven different divisions, from the cruising yacht to the fully-accredited IRC premium class and amateur crews, to fully professional.
Anyone can find a crewing spot, charter a yacht with friends or just turn up to enjoy the yachting.
“The event combines competitive sailing with an exciting holiday experience in one of the most beautiful settings in Australia,” Hamilton Island chief operating officer Gavin Herholdt said.