Closing night film Hellboy II's director Guillermo del Toro presented the Target Filmmaker Award for best narrative feature to Sean Baker for Prince Of Broadway and the best documentary feature prize to Darius Marder for Loot.
The documentary jury also bestowed a special jury commendation to Pressure Cooker directed by Jennifer Grausman and Mark Becker.
Best narrative short film went to Alice Winocour's Magic Paris and best documentary short film went to Eva Weber's City of Cranes. Cam Christiansen's I Have Seen The Future won the award for best animated/experimental short film.
The audience award for best narrative feature went to Jonathan Levine's The Wackness and the best documentary prize was presented to Sacha Gervasi for Anvil! The Story Of Anvil. James Marsh's Man On Wire won best international feature.
The audience award for best short film went to Darren Thornton's Frankie while Melanie Mandl's Run won the audience award for best music video for Air.
Jennifer Lawrence's performance in Lori Petty's The Poker House won the Outstanding Performance in the Narrative Competition award, presented to an actor or actress in a picture in official selection.
Don Cheadle was honoured with the 2008 Spirit Of Independence Award.
'The audience truly is king, and it shows through their continued enthusiasm for diverse, entertaining, and thought-provoking films,' Los Angeles Film Festival director Rich Raddon said.
'The opportunity to see new summer movies and discover new international and independent talent has continued to fuel the growth in attendance at the festival.'
The Los Angeles Film Festival ran from June 19-29.