Euro NCAP has been presented with the Prince Michael's Special International Award for Innovation for its move to introduced safer cars across the continent of Europe.
The commendation comes after Euro NCAP launched its new rating scheme.
Prince Michael described Euro NCAP as being "instrumental in designing and implementing innovative programmes that save so many lives".
Euro NCAP was presented with the award at the Make Roads Safe - A Call for a Decade of Action for Road Safety Campaign in Moscow.
Dr Michiel van Ratingen, secretary general of Euro NCAP, said: "We are delighted to accept this reward, which recognises Euro NCAPs work in ensuring our testing programme remains current and up-to-date with the latest safety technologies.
"It makes us all very proud and our hard work worthwhile."
Recently, Euro NCAP published ratings for eight new cars, seven of which were awarded the organisation's maximum five-star rating including the Honda Insight and Toyota Prius.