British beauty Campbell was honoured with the Special Recognition Award to mark her 25-year career during the ceremony at the Savoy Hotel.
During her acceptance speech, she told the crowd, "It's overwhelming to be in your own country and to receive such an award."
Meanwhile, British funnyman David Walliams' Danish wife Stone was handed the coveted Model of the Year title.
Taking to the stage, she admitted, "It's an honour to represent British style."
Other winners on the night included late designer Alexander McQueen, who was awarded a posthumous honour for Outstanding Achievement in Fashion Design for his clothing label.
Victoria Beckham was nominated for her first fashion accolade for the Designer Brand Award at the bash, but lost out to fashion house Mulberry.
U.K. TV presenter Alexa Chung won the British Style Award at the star-studded event, which saw celebrities including Beckham, Emma Roberts, Thandie Newton and Lily Cole in attendance.