The Kandinsky Prize, designed to be Russia's answer to the Turner Prize, has been split between two winners for the first time.
Grisha Bruskin and collective AES+F, share 40,000 euros (£32,000) for a sculpture and a video installation.
Bruskin's sculpture the H-Hour is a study of hate, while Allegoria Sacra is the final instalment of a video trilogy covering Heaven, Hell and Purgatory.
Dimitri Venkov won the 10,000 euro prize for artists under 35 years old.
The award was established in 2007 by Shalva Breus, a Georgian-born businessman who made a fortune in the Russian publishing industry.
The prize, which recognises works of contemporary art among Russian artists, saw a record 385 submissions this year.
Nominees for the prize had included jailed musicians Pussy Riot in the long list, but the punk collective did not make the shortlist of 35 finalists.
One of the distinctive features of the prize is that artists are able to nominate themselves.
The winners are selected by an international jury, this year made up of Russian and US art experts.
In 2011, an exhibition of the shortlisted artists took place at the Central House of Artists in Moscow, and was attended by more than 35,000 people - a record for one of the largest exhibition venues in Russia. The works went on to be exhibited in Riga, Berlin and London.