The ICC awards were for the period from August 1, 2005, to July 31, 2006.
Ponting, the 31-year-old Tasmanian, was honoured with the ICC Player of the Year award for which he received the Sir Garfield Sobers Trophy and a Hyundai Sonata Car. The award was given away to him by Indias master blaster Sachin Tendulkar. Ponting also won the ICC Test Player of the Year award.
Another Australian player Mike Hussey won the ICC ODI Player of the Year award and Australian womens team captain Karen Rolton won the first ever ICC Womens Player of the Year award.
Speaking to newspersons after bagging the top two awards, Ponting said to walk away with these awards was something very special.
''Bagging the Player of the Year award is more special for me than the Test Player of the Year,'' he added.
He said, ''Being voted by peers makes these awards more satisfying for me.'' Speaking about his 100s in the last year, the Australian skipper said ''second innings hundred I got at Manchester against England, a match saving one in the Second Test is the most special for me.''
''Sachin has set the standards and I am trying to catch up with those standards,'' he said while replying to a question regarding how he felt after receiving the award from Tendulkar.
Ponting said that he was shocked to receive the Test Player of the Year award. ''I thought it would be a no contest with Shane Warne walking away with the award. Therefore, it is a pleasant surprise,'' he added.
Another new award introduced this year has been the Spirit of Cricket award, which was bagged by England.
English batsman Ian Bell was awarded the Emerging Player of the the Year award, which was presented to him by West Indies captain Brian Lara earlier itself, as Bell had returned to England after they were dumped out of the ICC Champions Trophy.
Earlier, Sri Lanka's Mahela Jayawardene proved to be a surprise winner in the Captain of the Year Award, beating the challenge of Australian Ricky Ponting, Indias Rahul Dravid and the Ashes winning England captain Michael Vaughan.
Speaking to media persons after bagging the award, Jayawardene said he was still in shock after winning the award considering the calibre of other nominees, which included Ricky Ponting, Rahul Dravid and Michael Vaughan.
Mahela also said winning the award means his team has been doing well. ''This award is as much for the team as it is for me,'' he said.
Rahul Dravid, however, got a consolation by being named not only in the ICC Test team of the year, but also being named its captain.
Speaking to reporters Dravid said it was not that disappointing in losing out to Jayawardene the award of the ICC Captain of the Year award. ''To be honest, it is an honour just to be among the nominees,'' he remarked.
In the Umpire of the Year, award category Simon Taufel of Australia completed a hat-trick by winning for the third consecutive year in a row the ICC Umpire of the Year award.
Speaking to mediapersons, Taufel termed the award as a humbling experience. He said umpiring was not just about boundaries and decisions, but about sacrifices. It was about being away from the family for a long period, man management skills and above all team work with fellow umpire and the players.
The awards ceremony was kicked off by former Pakistan captain Imran Khan, who gave his vision for the game for the next decade.
Imran said the most important thing was to spread the game to other countries and the best way was the Twenty20 cricket, which is easier to understand for other countries, which are not used to the game.
He said the last ten years had been a bane for the fast bowlers and this was because of the increasing number of ODIs the teams were now playing. Due to the increased number of ODIs, the injury rate had also increased manifold and this had an adverse effect on pace bowlers.
Imran said positive things had happened in the past ten years, such as the standard of fielding, neutral umpires and the increased use of technology.
Hyundai ICC awards list
Ricky Ponting (Aus): ICC Player of the Year
Ricky Ponting: Test Player of the Year
Michael Hussey (Aus): ODI Player of the Year
Karen Rolton (Aus): Women's Player of the Year
Ian Bell (Eng): Emerging Player of the Year
Mahela Jayawardene (SL): Captain of the Year
England: Spirit of Cricket
Simon Taufel (Aus): Umpire of the Year
ICC Test Team of the Year: Rahul Dravid (Capt-Ind) Matthew Hayden (Aus), Mike Hussey (Aus), Ricky Ponting (Aus), Mohammed Yousuf (Pak), K Sangakkara (wk-SL), A Flintoff (Eng), Shane Warne (Aus), Makhaya Ntini (RSA), M Muralaitharan (SL) and Glenn McGrath (Aus). 12th man: Brett Lee (Aus).
ICC ODI Team of the Year: Mahela Jayawardene (Capt-SL) Adam Gilchrist (wk-Aus), Mahendra Dhoni (Ind), Ricky Ponting (Aus), Mahela Jayawardene (SL), Yuvraj Singh (Ind), Mike Hussey (Aus), A Flintoff (Eng), I Pathan (Ind), Brett Lee (Aus), Shane Bond (NZ) and M Muralitharan (SL). 12th man: A Symonds (Aus).