The British star joined Mercedes alongside Lewis Hamilton for 2022 and, after a tricky campaign with the W13, scored his first world championship grand prix win at Interlagos in Brazil.
The win, which came a day after Russell had overtaken Max Verstappen to head the sprint race, was his 81st GP start and helped the 24-year-old to fourth in the drivers’ championship.
The Award, which is open to standout moments from international-level motorsport and returns after a one-year hiatus, was handed out on 4 December at the Autosport Awards at Grosvenor House on Park Lane.
Russell’s moment came out on top against Verstappen breaking F1’s season-wins record in Mexico, Ross Chastain’s NASCAR Cup wall ride at Martinsville and Nyck de Vries scoring points on his F1 debut at Monza for Williams.
David Coulthard, the 1989 McLaren Autosport BRDC Award winner, was on hand to present the Award to his 2014 counterpart Russell.
Reflecting on his Interlagos breakthrough, the 24-year-old said: "It was an incredible moment for me personally, the journey that the team had been on in that  season.
"We had the golden opportunity in the Brazilian Grand Prix. The race was pretty under control and the safety car came out, I saw Lewis behind me and I thought this is not going to be straightforward!"
Other awards decided by expert judging panels include the Aston Martin Autosport BRDC Young Driver of the Year Award, the Gold Medal for lifetime legacy, the Gregor Grant Award for lifetime achievement, Motorsport Promoter of the Year, and Esports Team of the Year presented by Motorsport Games. The Autosport Williams Engineer of the Future is the other award that has returned for 2022.
Further categories, which are decided by fan voting, include International Racing Driver of the Year presented by Pirelli, International Rally Driver of the Year, British Competition Driver of the Year, Rookie of the Year, International Racing Car of the Year presented by Blink Experience, Rally Car of the Year, National Driver of the Year and Esports Driver of the Year presented by Motorsport Games.
To find out who our other Award winners are, go to autosport.com/awards