Discus thrower Marshall Hall won the sportsman of the year award while distance runner Rachel Kingsford won the corresponding sportswoman award.
Hall (21) had eight of the top 10 throws in the country last season and also holds the No 1 ranking in New Zealand for discus.
He was unable to be at the ceremony last night as he is at the Oceania track and field championships in Cairns.
Kingsford (22) won the women's 10,000m national title in January this year and followed up with a win in the senior women's North Island cross-country championships in July.
Thirty-nine students received a blue in recognition of excellence in sporting pursuits and contribution to sport in 2010.
Previous winners of the blues awards include Olympic gold medallist Jack Lovelock, former All Black captain David Kirk and ex-Silver Ferns captain Belinda Colling.
The University of Otago Graduates' Association award for outstanding contribution to sport went to Nick Saunders and Joseph Hii.
Saunders was rewarded for his efforts as a local club umpire, Otago University Hockey club president and member of the Otago Hockey umpiring committee.
Hii was recognised for his contribution to badminton as the founder of the badminton club, team manager for the UniGames and his work with the Malaysian Students' Association in preparing for the Bersatu games.
The Otago University Student's Association sports club of the year award went to the Otago University Alpine Sports Club for its efforts in the 2010 University Snow Games, in which Otago finished as the top team.
