Bullock picked up the spoof movie trophy for her part in All About Steve, which she also co-produced, even though she is one of the favourites to win an Academy Award at Sunday night's (07Mar10) Oscars ceremony for her role in The Blind Side.
The Miss Congeniality actress received a standing ovation as she took the stage to pick up her Razzie - the first Worst Actress recipient to attend the show since Halle Berry was shamed for her role in Catwoman in 2005.
Armed with a box of DVDs of the film, Bullock told the crowd they all need to watch her performance again because she's not convinced she deserves the dishonour.
She told the audience, "Something tells me you all didn't watch the film because I wouldn't be here if you really, really watched it and understood what I was trying to say. Everyone gets a copy and this is the deal I'm going to make. I will show up next year if you promise to watch the movie and really consider if it was truly the worst performance. If you're willing to watch, I'll come back next year and give back the Razzie."
Bullock also landed another flop trophy for Worst Screen Couple with her All About Steve co-star Bradley Cooper.
Other big losers at the event include Transformers: Revenge of the Fallen, which was panned as the Worst Picture of 2009, and received dishonours for Worst Director for Michael Bay and Worst Screenplay for Ehren Kruger, Roberto Orci and Alex Kurtzman.
Sienna Miller received the Worst Supporting Actress Razzie for G.I. Joe and Billy Ray Cyrus picked up Worst Supporting Actor for his part in his daughter Miley Cyrus' big screen outing Hannah Montana: The Movie. The Jonas Brothers were jointly named Worst Actor for Jonas Brothers: The 3D Concert Experience.
Razzie bosses also marked the end of the decade by picking the worst movie offerings of the last 10 years - John Travolta's Battlefield Earth was labelled the Worst Picture and Paris Hilton was named and shamed as the Worst Actress, while Eddie Murphy was named Worst Actor.