The award, instituted by the leading Malayalam daily "Mathrubhumi", carrying a cash prize of Rs 2 lakh, a plaque and citation was bestowed on Leelavati by Jnanpith award winner Mahesweata Devi at a function here.
Speaking on the occasion, Mahesweata Devi lauded the contributions Leelavati had made for the Malayalam language.
Mathrubhumi Chairman and Managing Director M P Veerendra Kumar presided.
A three-member judging panel headed by renowned poet Akkitham, and writers Vishnunarayanan Nampoothiri and K P Sankaran, had unanimously chosen Leelavati for the award.
Akkitham, Vishnunarayanan Nampoothiri, Kovalan, Thikkodiyan, M V Devan, Pala Narayanan Nair, Sukumar Azhikode, O V Vijayan, M T Vasudevan Nair and M Mukundan were the previous winners of the award, Veerendrakumar said.