The show, which took place at the Teatro at Montecasino in Johannesburg on Tuesday, included appearances by Casper De Vries, Dave Levinsohn, Mark Banks, Robert Whitehead and Mpho "Popps" Modikwane.
The show was was an unusual take on the standard awards ceremony format, with no speeches allowed, only short comedy sets by each winner.
John Vlismas, co-director of the awards, emphasised the importance South Africa's comedy industry. "If there is one thing we do well and need to do well, its laugh at ourselves. Today the whole industry has the opportunity to laugh together."
Alyn Adams won the Times' Comic's Pen award, an award voted for by other professional comedians, for his contribution to comedy over the year.
The Audience Choice award went to Sifiso Nene, while the Newcomer award was given to Dillan Oliphant. Tats Nkonzo won the Breakthrough Act award.
Comedy veteran Joe Parker was honoured with a Lifetime Achievment award.