Team India captain Mahendra Singh Dhoni accepted the award on Tendulkar's behalf as the dimunitive genius, who is recovering from a groin injury, could not attend the glittering ceremony at the majestic 19th century Mohatta Palace on Saturday night.
However it was Lankans who dominated the awards ceremony with three of them walking away with top awards.
Kumara Sangakkara was named Best Test batsman while his fellow countrymen Murali and Maharoof received the Best Test bowler and Best ODI bowler awards respectively.
Little Master Sunil Gavaskar and ex-Pak all-rounder Imran Khan were also honoured with special awards named 'Legendary Cricketers'.
The ACC also gave away a special award of 'best administrator' to former Pakistan Cricket Board (PCB) president Colonel (retd) Nur Khan.
PCB Chairman Nasim Ashraf, who took over as ACC President, said the awards were meant to honour and recognise the outstanding performers of the continent.
"Our sportsmen need to be recognised and rewarded for their achievements specially when Asia has now become a powerhouse in world cricket," he said.