The award was funded by the Spanish embassy in New Zealand.
Miss Philip (20), a third-year student, said that gaining the award was "amazing" and would greatly help her to undertake part of her fourth-year honours studies at the University of Grenada, in Spain, next year.
The award was presented by the Spanish ambassador, Marcos Gomez Martinez, at a function at the university on Thursday night.
Mr Martinez said that although there were budget constraints, he hoped the award would be offered annually in the future, and he had also been helping develop further Spanish cultural links with New Zealand.