• A kilted Lewis Williamson receives the Chris Bristow Trophy from the BBC's Jake Humphrey and Nigel Mansell Picture: Getty
The 21-year-old collected his award from fellow Scots and previous winners, IndyCar champ Dario Franchitti and DTM winner Paul di Resta.
"I'm in dreamland," said Williamson, runner-up in the British Formula Renault Championship this year, after collecting his trophy - a TW Steel watch and a cheque for 100,000 - at the awards ceremony at the Grosvenor House Hotel in London. He has also been rewarded with a test run in a McLaren Formula 1 car and a second award in the shape of the Chris Bristow Trophy - which was presented by F1 great Nigel Mansell at The Savoy.
"I wasn't feeling nervous - we had nothing to lose, but to win the award is amazing," he added.
Williamson was one of six young drivers shortlisted for the coveted award and took part in a two-day evaluation at Silverstone where he drove a Formula 2 car and a Mercedes DTM racer. "I went to the test days and just concentrated on doing everything I could to the best of my ability," said Williamson, who won five FRenault races this season and took four other podiums and five pole positions.
Having come so close to winning the FRenault title with Manor Motorsport - he was only pipped in the final race of the season by Tom Blomqvist - Williamson is now expected to move up to race in the GP3 series, part of the F1 grand prix support package.
"GP3 is certainly what we're looking at for 2011," he said. "It would be a natural step towards Formula 1."
Williamson was recently given a last-minute call-up to join the GP3 test at Estoril in Portugal. After missing the opening day, he jumped into Atech CRS GP's car and outpaced the other 29 drivers, most of whom had tested on the previous day.
Three-time F1 world champion Jackie Stewart, who picked up the Gregor Grant Award in recognition of his lifetime achievements in motorsport, said: "It's terrific for Scotland to have another talented young driver coming through."