Financial Times chief economics commentator Martin Wolf and the late Marie Colving have both beeen honoured by the James Cameron Memorial Trust.
Wolf won this year's James Cameron award for his “significant” contribution to financial journalism.
“I am very honoured to receive an award named after a great journalist,” he said, on receiving the honour.
“This award shows a welcome recognition of the importance of economic journalism in these difficult times.”
The award, given in memory of former British journalist James Cameron who died in 1985, includes a £1,000 prize.
The ceremony, held at City University London, also honoured Sunday Times foreign corrspondent Colvin, killed in Syria in February, with a special posthumous award, which was collected on her behalf by Sunday Times editor John Witherow.
He said: “James Cameron was brave, shrewd, charismatic and irrepressible and nothing could better describe Marie Colvin; those two were made for each other.
“Marie went to Syria, as she had other war zones, and many people asked ‘was it worth it?’ Like James Cameron, I’m sure she wouldn’t have hesitated in saying ‘yes it’s always worth it. We have to be there on the frontline'.”
Witherow said that the £1,000 prize l be donated to the foundation set-up by Marie Colvin’s family following her death.
This year's James Cameron lecture, Sharing the Best and the Worst: The Indian news media in a global context, was delivered by Indian journalist Narasimhan (N) Ram.