The band, who are also celebrating the 40th anniversary of the week their hit Bohemian Rhapsody first charted, were presented with the award at The Roundhouse in Camden, London.
Brian May, who rose to fame as Queen's lead guitarist, was presented with the award by American instrumental rock guitarist Joe Satriani.
Previous recipients of the award include Alice Cooper, Jeff Beck, Jimmy Page, Lemmy Kilmister, Ozzy Osbourne, Iggy Pop and ZZ Top.
Led Zeppelin's Page took home the Reissue Of The Year award for the re-release of the band's catalogue in a deluxe box set.
Other winners included the Foo Fighters who were awarded Best DVD/Film for their documentary Sonic Highways.
Press Association.
Full story at Yahoo News.
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