According to AAP, the entertainer, who is currently in a rehabilitation centre after falling at his house before Christmas, was named 'The Immortal' at the music ceremony last night.
The 'Immortal' trophy is a lifetime achievement award presented to celebrate outstanding contribution to popular culture.
Meldrum has undergone various surgeries to repair a fractured skull, brain swelling, a broken collarbone and ribs and a punctured lung.
Doctors have predicted that his recovery will take a "considerable amount of time" because he is still very "confused".
At the ceremony, recently reunited Cold Chisel won the prestigious 'Rolling Stone Award', while Gotye was named 'Best Male'. His former collaborator Kimbra was awarded the 'One to Watch' gong, while The Jezabels walked away with the 'Best Album' prize and Megan Washington was named 'Best Female'.
Florence + the Machine won 'Best International Act', and Foo Fighters were announced as the 'Best Live International Act'.
> Molly Meldrum will never be the same again, says brother
> Molly Meldrum's condition improves over weekend