It was the first time the fast-growing supplier was nominated for an award at the prestigious event.
CEO Fredrik Elmqvist and his team took to the stage to collect the prize.
Yggdrasil had an outstanding year in 2015, signing deals with a number of major operators and launching a range of innovative products and features.
Last summer, Yggdrasil was voted Software Rising Star at the EGR B2B Awards.
Fredrik Elmqvist, CEO at Yggdrasil Gaming, said: “It’s been an amazing year for the company and I’m very proud of our team who has worked their socks off for us to be in the position where we are today.
“We’re a young, agile and motivated business with a an appetite to be better than everyone else. To receive the iGaming Software Supplier of the Year award at this stage in our lifecycle is beyond our wildest dreams.”