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The Black Ferns Sevens won the Commonwealth Games and Sevens World Cup, claimed five World Series titles and are on a 39-match winning streak.
"The winners are ground-breakers for women's sport, role models for girls and young women across the country, and overall a generous, community-focused and inspirational team," said Sports Minister Grant Robertson.
Captain Sarah Goss said the team couldn't have achieved the results without the support of friends, family and fans.
"It's been a huge year for us and we're really pleased with how we're going. It's great to be recognised with this award and it's just made us even more excited for the Tokyo 2020 Olympic Games."
"Our support staff are also amazing and what we do on the field wouldn't be possible without them, so I'd like to pass on my thanks to them and everyone involved in the wider rugby sevens world as well."