World No. 1 tennis star Novak Djokovic received the top individual honor at the Laureus Sports Awards on Monday.

The 24-year-old Serb was honored as the 2011 World Sportsman of the Year at a ceremony in London, which will host the Olympic Summer Games later this year.

Djokovic ascended to No. 1 for the first time last year, one in which he captured three of the four Grand Slam titles, with the prestigious championships coming at Wimbledon and the U.S. and Australian Opens.

Last month, Djokovic outlasted former No. 1 Rafael Nadal in a nearly-six-hour men's final at the Aussie Open, which marked the Serb's second straight and third overall Melbourne title. It also made Djokovic only the fifth man in the Open Era to capture three straight major titles.

The winner of the award is chosen by 47 sports stars who comprise the Laureus Sports Academy.