The coveted Best Actor award went to popular star Dileep for his sterling performance in "Vellaripravinte Changathi" and Shwetha Menon was adjuged the best actress for her role in "Salt & Pepper", a huge commercial hit of last year.
State Minister for Cinema K B Ganesh Kumar declared the awards here today in the presence of Jury Chairman and noted director K Bhagyaraj and other jury members.
Bhagyaraj said the awards had been a reflection and recognition of the new trend in Malayalam film set by youngsters.
"Compared to previous years, there are lot of movies of good standard and substance. Innovations and novelty in treatment and narration were evident in many of them. We think, Malyalam films would benefit from these experimentations in its future course," he added.
P Balachandran-directed "Ivan Megharupan", which deals with the agony and ecstasy of a poet, was selected as the second best feature film.
Fahad Fazil, the face of new wave movies, and theatre artist Nilambur Ayisha won the second best actor and actress awards respectively.
Veteran actor Jagathy Sreekumar, who has been in hospital for last several months after a road accident, was selected best comedian for his performance in "Swapna Sanchari".
New generation singer Sudeep Kumar won the best male singer award for the songs in the movie "Rathinirvedam" while Shreya Ghoshal bagged the best female singer title for her songs in the film "Rathinirvedam" and "Veeraputran", which were chartbusters last year.
Yesteryear lyricist and director Sreekumaran Thampi won the award for the best lyricist while noted composer P Sharath bagged the title of best music director.
Ashique Abu-directed "Salt & Pepper" won the best popular film award while Dr Biju bagged special jury mention for direction for the movie "Akashathinte Niram".
Sherry, director of the controversial movie "Adimadhyantham" won best newcomer director title.