Oscar favourite Natalie Portman, whose portrayal of a troubled and dedicated ballet dancer in the film has won her global acclaim, was named Best Actress, while Black Swan also picked up Best Feature, Best Director for Darren Aronofsky and Best Cinematography.
James Franco's performance in 127 Hours made him the surprise winner of the Best Actor prize, beating the seemingly unstoppable Colin Firth, who has swept the board for his role in The King's Speech throughout awards season.
Drama Winter's Bone, which led the nominations with seven nods, only managed to pick up two honours: Best Supporting Male for John Hawkes and Best Supporting Female for Dale Dickey.
The full list of winners is as follows:
Best Feature: Black Swan
Best Director: Darren Aronofsky, Black Swan
Best Male Lead: James Franco, 127 Hours
Best Female Lead: Natalie Portman, Black Swan
Best Supporting Male: John Hawkes, Winter's Bone
Best Supporting Female: Dale Dickey, Winter's Bone
Best First Feature: Get Low
Best Screenplay: Stuart Blumberg and Lisa Cholodenko, The Kids Are All Right
Best First Screenplay: Lena Dunham, Tiny Furniture
Best Cinematography: Matthew Libatique, Black Swan
Robert Altman Award: Please Give
Best Documentary: Exit Through the Gift Shop
Best Foreign Film: The King's Speech
John Cassavetes Award: Daddy Longlegs
Acura Someone to Watch Award: Mike Ott, Littlerock
Aveeno Truer Than Fiction Award: Jeff Malmberg, Marwencol
Piaget Producers Award: Anish Savjani, Meek's Cutoff.