The best-selling author picked up the award – named in memory of the late Scottish novelist William McIlvanney – for his book Hyde.
Judges described the novel as having “a gothic background that draws you in and brings the reader back to the Scottish origins of Jekyll and Hyde’s creator, Robert Louis Stevenson”.
They said it was a “dark tale that was a delight and a thoroughly entertaining read”, showing that Scottish crime writing is “amongst the best in the world”.
Russell previously won the award in 2015 with The Ghosts Of Altona and is the first author to win the prize twice.
He received the award at the Bloody Scotland International Crime Writing Festival in Stirling’s Albert Halls.
Also honoured at the event was Robbie Morrison, who won the Debut Prize for his book Edge Of The Grave.