Borough Market has won the 'Great Place' award at the inaugural Academy of Urbanism Awards.
"It is thanks to the hard work and commitment shown by so many people that our market has reached an incredible level of success," says Annie Coleman who chairs the Trustees of Borough Market.
"Not only have the traders and producers shown perseverance in working with us through the hard times, but the local businesses, organisations and individuals have strengthened this with their loyalty to our cause.
"The market, which is run as a charity, would like to thank again all those who have worked with us and to encourage their ongoing support."
Ken Greig – of architects Grieg + Stephenson who have worked on the integration of the Floral Hall portico into the market and the refurbishment of the wholesale Jubilee Market – said: "We are very pleased to be celebrating this achievement with the market.
"The award reflects the positive effect the market's regeneration has had on the surrounding area and we are proud to be a part of its success.
"To be named Great Place over such high profile contenders is a great accomplishment and illustrates how markets and their importance within communities is an increasingly significant issue within the built environment."
Some local residents and traders fear the impact on the market proposed Thameslink rail scheme which will see a new rail viaduct built across the area.