The announcements were made in front of 250 guests at Ennismore Sessions House in London, where the best established and emerging studios of the year were also revealed.
A shelter for archeologists in Peru, a school office interior in Melbourne based on Italian piazzas and a robotically fabricated structure made from organic matter were selected as this year's overall project winners.
This year's three master juries, who met in London in September, chose the winners based on how beautiful, innovative and beneficial they are to people and planet.
The architecture project of the year, which also won the small building award, was designed and built by 45 architecture students from Zurich and Lima.
Designed by ETH Zurich's Studio Tom Emerson and Taller 5 at the Pontificia Universidad Católica del Peru (PUCP), A Room for Archaeologists and Kids has a woven white textile canopy, bamboo cane walls and earthen floors.
The pavilion provides shelter for archaeologists in Pachacamac, an archaeological site in Peru that covers around 600 hectares of desert.
The open rectangular structure was designed so that the archeologists' examinations of artefacts are in view of passing visitors and children from a nearby school.
The architecture master jury, which consisted of Sou Fujimoto, Lyndon Neri, Kunlé Adeyemi, Sonali Rastogi and Jing Liu, championed the project for its structural preservation and the characteristics of the space.
"This project is a perfect response to an old structure," said the judges. "The introduction of softer elements creates a surprising and pleasant atmosphere."
Almost every surface of Piazza Dell'Ufficio, which was also named small workspace interior of the year, has been lined with slim cardboard tubes.
The Australian architecture studio wanted to create an environment that broke down barriers between staff and student interactions.
"This aesthetically pleasing space creates a break-out space for busy school life," said the interior design master jury, which was made up of Ab Rogers, Eva Jiricna, Eero Koivisto, Matali Crasset and Yoko Choy.
"There is a great balance between contemporary, recyclable and affordable materials and colours, creating a warm and calming environment that is suitable for student welfare," the judges added.
The design master jury, which consisted of Philippe Starck, Nelly Ben Hayoun, Yinka Ilori, Aric Chen, Lonny van Ryswyck and Sofia Lagerkvist, selected Aguahoja I by MIT Media Lab's Mediated Matter Group as the design project of the year.
Aguahoja I is a digitally designed and robotically fabricated structure made using the molecular components found in tree branches, insect exoskeletons and human bones.
Standing five meters tall, the structure's flexible bio-composite skin is composed of cellulose, chitosan and pectin, examining how even the materials that we consider waste can inform design.
The project by Neri Oxman's research and design group, which also the won the award for sustainable design, demonstrates the application of water-based robotic fabrication at a scale close to those of natural ecologies.
"Finding new sustainable materials is an urgent matter," said the design judges. "Aguahoja I shows how nature can help us to design new materials, highlighting the relationship between nature and technology."
"It is completely innovative and presents hope for the future," they added. "The organic material shows huge potential, which could change even how we think about architecture."