Colt Knost has been presented with the inaugural Mark H McCormack Medal during a ceremony at his home club, Royal Oaks Country Club in Dallas, Texas.
Knost received the medal from Todd McCormack, son of the late Mark McCormack, founder of the International Management Group (IMG), and Mike Tate, Director of The R&A.
Colt Knost said: "I am delighted to be the first winner of this award. It is the perfect way to sign off my amateur career."
Todd McCormack commented: "Colt is worthy winner and I am sure he will go on to have a long and successful career in the game that my father lived to promote."
Knost was ranked No 1 in The R&A World Amateur Golf Ranking at the end of Week 38, the cut-off point for the award in the 2007 season.