Singapore GP, Tost voted the best
The prize was handed out at the annual Professional Motor Sport World awards in Cologne on Tuesday night.
"We have received a great many compliments from around the world since the running of the race, but this is an award given by our peers, the professionals who work in motor sports.
"It therefore is especially gratifying," said Singapore GP spokesman Jonathan Hallett.
The Marina Bay circuit beat fellow nominee Valencia, scene of the European grand prix this year, as well as Toyota's new chassis engineering building and a new facility in Sweden.
At the same ceremony, Toro Rosso boss Franz Tost was named team principal of the year.
11/12/08 The SingTel Singapore Grand Prix celebrated yet another success on Tuesday, with the event and the Marina Bay circuit winning the title of world-wide Motor Sport Facility of the Year.
The first-ever floodlit night race venue in F1 history won the accolade at the Professional Motor Sport World annual awards ceremony in Cologne on Tuesday.
The 5.067km circuit was commended for the revolutionary track lighting and the spectacular way in which it weaves the track through the heart of the city.
The other candidates were the European Grand Prix venue at Valencia in Spain, the new Toyota Racing Development chassis engineering building in Cologne and a new start-of-the-art motor racing facility at Sturup in Sweden.