The 31-year-old superstar received the Laureus Sportsman of the Year Award ahead of French football World Cup star Kylian Mbappe, F1 star Lewis Hamilton, marathon world record breaker Eliud Kipchoge, Croatian footballer Luka Modric and National Basketball Association royalty LeBron James.
This is the second Laureus award for 21-year-old Biles, who also picked up the title last year following her fifth national championship and fourth worldwide championship wins.
"A Laureus award is what every athlete wants to win, and this one is a huge honour for me".
Biles has become the most decorated gymnast in American history, taking home more world gold medals than any other athlete. With a big thank you and visibly moved, the Ski-Queen adopted.
While accepting his award as the Sportsman of the Year, Djokovic admitted it was his wife Jelena who had helped him back after his darkest moments. Japan's first Grand Slam tennis star Naomi Osaka received the "Breakthrough of the Year Award" for her victory in the US Open, where she defeated five-time Laureus Award victor Serena Williams.
Manager Didier Deschamps - who also captained France to the 1998 World Cup triumph - accepted the award with some members of his backroom staff. Golfing star Woods won his third Laureus Award, after winning the "Sportsman of the Year" accolade in 2000 and 2001.
Naomi Osaka won the Breakthrough Award for winning the U.S. Open and Chloe Kim was named the World Action Sportsperson of the Year. Among the nominees in that category was wrestler Vinesh Phogat, the first Indian ever to make this far at Laureus.
Decorated Paralympic cross-country skier Brian McKeever of Canmore, Alta., was nominated for the World Sportsperson with a Disability Award, but lost out to Slovak alpine skier Henrieta Farkasova.
Among those standing up in respect for a remarkable woman on the world sport's most glamorous stage were legends who have won several Olympic golds, World Cups, Grand Slams and major leagues between them.
Yuwa, a sport for development organization that works in the rural region of Jharkhand in northern India, received the Laureus Sport for Good Award for their life-changing work in using football to improve the lives of young girls from disadvantaged communities.