Jaguar received the award at the New York International Auto Show which is currently taking place and runs until Sunday.
Some 43 cars were considered for the award, before being whittled down to a shortlist by an advisory panel of design experts before final consideration by 66 World Car of the Year jury members.
Available in three models – the F-Type, F-Type S and F-Type V8 S – the two-seater, convertible sports car is billed as representing a return to Jaguar’s traditional design principles, focusing on performance, agility and driver involvement.
The cars are powered respectively by Jaguar’s new 3.0-litre V6 supercharged petrol engine in 340PS and 380PS outputs and its 5.0-litre V8 supercharged petrol producing 495PS. The range-topping F-Type V8S will reach 60mph in 4.2 seconds and has a top speed of 186mph. The 380PS V6 F-Type S will reach 60mph in 4.8 seconds and 171mph, the equivalent figures for the F-Type are 5.1 seconds and 161mph
Ian Callum, Director of Design, Jaguar, said: "No design project has given me greater pleasure than the creation of the F-TYPE. It's a project I've looked forward to from the moment I joined Jaguar, and it's one that's given my team and I great satisfaction.
“The F-TYPE is a sports car that is true to Jaguar's design values – beauty of line and purity of form – and I'm honoured that the World Car of the Year jury has recognised our work with this award."
The F-Type is available for £58,500, the F-Type S for £67,500 and the F-Type V8 S for £79,950.