They are the little and large of sport - while Bolt stands 1.95 metres, Biles measures just 1.45 metres - but they were both giants at the Rio Olympics, and enjoyed an ecstatic welcome as they received their statuettes here, the birthplace of the first ever Laureus awards 17 years ago.
Bolt received his award from legendary Michael Johnson, who urged him not to break other people's records. To which Bolt responded by saying "sorry".
"I am sorry to have broken your record," Bolt told Johnson.
"Thanks for the wonderful award. Laureus is one of the biggest awards for me. This is my 4th award and to be equalling it with someone like Roger Federer is great. I am kin great company. It is special," he added.
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The most decorated Olympian of all-time, Michael Phelps bagged the 'Comeback of the Year' award after returning to the swimming pool and scooping five more gold medals.
After the 2012 Olympics, Phelps retired from swimming but came out of the retirement and subsequently at the Rio Games last year, he bagged as many as five gold medals and a silver.
"Looking back at my career today, I can say that Rio was my greatest race," said Phelps after getting the award.
Roseberg said that the last two laps in Abu Dhabi was the "most sensational moment in my racing career."
"I am really happy to have won the 'Oscar of Sports'. The last two laps in Abu Dhabi, I didn't know if my life's dream was coming true. That stands second behind my wife giving birth to our girl," said Roseberg after winning the award.
The powerful surf therapy programme "Waves for Change"
bagged the Sports for Good award. The South Africa based project used sport of surfing project for vulnerable young adults growing up in the country's most violent communities.
Another historic team performance was Chicago Cubs' first Major League Baseball World Series victory for 108 years. This feat won them Laureus Team of the year award.
The winners were chosen by members of the Laureus World Sports Academy.
For the first time ever, sports fans had a chance to make their voices heard in a brand new Best Sporting Moment of the Year Award and that honour went to Barcelone Under-12 team.