She beat off competition from her sister Bella and best friend Kendall Jenner at the ceremony in London.
To celebrate, the 21-year-old took part in a mannequin challenge on stage at the Royal Albert Hall with the audience getting involved as well.
Other winners on the night included Jayden Smith and Willow Smith as new fashion insiders.
Accepting her international model of the year award, Gigi said: "I just want to say that I know that I'm in the generation of social media, and I'm so blessed for that.
"But the fashion industry is my family, and you guys are the ones that I'm here for."
She was fighting back tears as she continued: "To everyone who has been so genuine and looked beyond what the rest of the world looked for, that has meant so much to me."
Gigi Hadid, 21, is the daughter of LA real estate developer Mohamed Hadid and former model Yolanda Hadid, who appears in reality TV show The Real Housewives of Beverly Hills.
She's dating former One Direction singer Zayn Malik and her sister Bella is also a top model.
British emerging talent -Molly Goddard
Swarovski award for positive change - Franca Sozzani
British menswear designer - Craig Green
British womenswear designer - Simone Rocha
Isabella Blow award for fashion creator - Bruce Webber
British brand - Alexander McQueen
International business leader - Marco Bizzarri for Gucci
International urban luxury brand - Vetements
New fashion insider - Jayden Smith and Willow Smith
International model - Gigi Hadid
International accessories designer - Alessandro Michele for Gucci
International read-to-wear designer - Demna Gvasalia for Balenciaga
Outstanding achievement award - Ralph Lauren