The singer-songwriter was honoured by the US society at their 32nd annual London bash, following his success Stateside over the past few years.
The ceremony at the capital's Grosvenor House Hotel recognised songwriters, composers and publisher members of UK society PRS for Music, reports Music Week.
Steve Mac won the 'Song of the Year' prize for 'You Make Me Feel', which was recorded by Cobra Starship and sold over 2 million copies in the US.
Universal Music Publishing won 'Publisher of the Year', following successes with Coldplay's 'Paradise', T-Pain's '5 O'Clock' and Florence + the Machine's 'Dog Days Are Over'.
"I'm thrilled that our songwriters continue to write hit songs that people want to hear all over the world," said Universal Publishing UK & Europe president Paul Connolly.
"As their honoured music publisher, this ASCAP 'Publisher of the Year' award is testament to their creativity, professionalism and hard work - and to that of my colleagues at Universal. This award is for all of them."
Cruz released his third studio album TY.O in Germany and Canada back in 2011, but has yet to confirm a UK and US release date for the set.
Watch the music video for Taio Cruz's 'Dynamite' below: