The National Father's Day Council (search) feted the talk-show czar and the billionaire developer at a charity luncheon at the Marriott Marquis in New York City.
"These fathers play a vital role in the lives of their children," said Rich Wurtzburger, chairman of the committee that selected the honorees.
He said King and Trump had shown "great dedication to raising their families."
King, 71, is the father of six kids and has been married seven times.
Asked how a serial husband could be heralded as a great dad, Wurtzburger told The Post:
"The award here is for 'Father of the Year,' not 'Husband of the Year.' You can see that he is very close to each of his kids."
Wurtzburger was close-mouthed when asked about Trump's dalliance with Georgia Peach Marla Maples — while he was still married to Ivana Trump and had three small kids.
"No comment. I don't know anything about that," he said.