The group beat runners-up Foo Fighters by a considerable margin on the tally, in which over 100,000 votes were cast. Leicester rockers Kasabian took third place.
Elsewhere on the poll, Bruno Mars won 'Best Male Artist', ahead of Ed Sheeran and Will Young, who took spots two and three respectively.
The Wanted were named 'Best Pop Group' of the year, beating One Direction at two and The Saturdays at three. X Factor winners Little Mix took fifth position, below JLS and above Take That.
Coldplay released their fifth studio album Mylo Xyloto in October this year. It topped the charts in over 11 countries and has already been certified platinum in the UK.
Singer Chris Martin recently claimed that he felt the group was hated by the world, adding: "Some people misconstrue our band just to be a commercial venture. They question the soulfulness of Coldplay because we've done okay."
> Coldplay interview: 'We feel like a new band again'
Watch the music video for Coldplay's latest single 'Paradise' below: