The Real Madrid midfielder - who has scored 17 La Liga goals this season, including a winner against rivals Barcelona on Sunday (21.04.24) - scooped the prize at the historic Palacio de Cibeles in Madrid.
England star Bellingham wrote on Instagram: "What an honour to spend the evening with so many of my sporting heroes at such a prestigious event and to collect the World Breakthrough of the Year award. Thank you! (sic)"
Tennis legend Novak Djokovic was named Laureus World Sportsman of the Year for a record-equalling fifth time.
He said: "I am truly blessed to be among sports greats as a winner, but also as a supporter and admirer of Laureus Sport for Good as I too believe in the power of sport to make a difference in the world.
"Finally, this Laureus Statuette stands alone because it represents more than sporting achievement.
"The Laureus mission of using sport as a power for good has been changing lives for 25 years and embodies the values of its founding patron, Nelson Mandela.
"I want to add my support to Laureus Sport for Good and the work they are doing to transform lives around the world."
Spanish footballer Aitana Bonmati, who was named Laureus World Sportswoman of the Year, added: "It is humbling to see the list of previous winners of this Award.
"From Serena Williams to Simone Biles, Lindsey Vonn, Naomi Osaka and last year’s winner Shelly-Ann Fraser-Pryce, they are all incredible athletes who have not only excelled in their chosen sports, but been incredible role models for younger generations of young women and girls.
"To be the first footballer to win this Award makes it even more special and I hope to represent my sport in the same way that those great champions have done."
2024 Laureus World Sports Awards Winners:
Sportsman of the Year: Novak Djokovic
Sportswoman of the Year: Aitana Bonmati
Team of the Year: Spain women’s football team
Breakthrough of the Year: Jude Bellingham
Comeback of the Year: Simone Biles (gymnastics)
Sportsperson of the Year with a disability: Diede de Groot (tennis)
Action sportsperson of the Year: Arisa Trew (skateboarding)
Sport for Good award: Fundacion Rafa Nadal
