Foo Fighters and Whitesnake were the major winners at the Classic Rock awards, held in central London on Monday night.
Foo Fighters' frontman Dave Grohl sent a video acceptance speech thanking readers after winning band of the year while hair metal stars Whitesnake took the best album prize for Good To Be Bad.
Aussie rock act Airborne took the best new band award and Kiss guitarist and lead singer Paul Stanley claimed the showman of the year gong.
Meanwhile, Guns N' Roses guitarist Slash - who won the Marshall '11' award "for his services to balls-out guns-blazing rock n' roll" - presented the living legend award to Black Sabbath lead singer Ozzy Osbourne.
"Ten years ago people said a magazine like Classic Rock couldn't last," said editor-in-chief Scott Rowley, speaking at the Park Lane ceremony.
"Ozzy's a household name and bands like AC/DC, Led Zeppelin, Metallica and Guns N' Roses are getting more headlines and front covers than ever, breaking box office records and topping the charts.
"The Roll Of Honour is a celebration of rock music as the most vital and vibrant genre of music."
Other winners included Jeff Beck for outstanding contribution while promoter Harvey Goldsmith took a special award, presented by Osbourne's wife Sharon.
AC/DC took the DVD of the year prize for Plug Me In, with Metallica winning reissue of the year and Led Zeppelin's one-off reunion show at the O2 Arena in December 2007 - their first concert in 19 years - named event of the year.