Actor Stuart Devenie, choreographer Michael Parmenter, cinematographer Leon Narbey, composer Gareth Farr and ceramicist John Parker were revealed as the 10th annual Arts Foundation Laureates.
They were each awarded $50,000 and a trophy in recognition of their artistic achievements.
It was the first time in the foundation's 10-year history the Laureate Awards had been announced in Dunedin and three of the laureates had an Otago connection.
Parmenter was born in Dunedin and held his first solo dance work at Allen Hall in 1978, Devenie is a Fortune Theatre stalwart who has been in Dunedin for the past few weeks rehearsing Roger Hall's Red Riding Hood, while Narbey won acclaim with his 1987 film Illustrious Energy, about Chinese gold miners working in Central Otago in the 1860s.
The three artists spoke about their work, illustrated by a video.
The highlight was Devenie changing on stage into his Red Riding Hood character "Granny Hood".
The Arts Foundation Laureate Awards were established in 2000.
New Zealand artists from any discipline are eligible, although they cannot apply for the awards, which are awarded on merit.
"We just ring them up out of the blue and ask them if they'd be happy to accept a cheque for $50,000," Arts Foundation executive director Simon Bowden said.
"No-one's said 'no' yet."
Chairwoman Ros Burdon said the awards, which are privately funded by arts patrons, had been a "huge success".
"The Laureate Awards are about recognising senior New Zealand artists who have a substantial track record of excellence and will make great work in the future," she said.
Parmenter and Narby were unable to attend the presentation, as they were working in France and Samoa respectively.
The panel members who selected the laureates were Dunedin Public Art Gallery director Elizabeth Caldwell, composer Jack Body, director Colin McColl, dancer Anne Rowse and author Deborah Shepard.
The 2010 laureates will also be celebrated at ceremonies in Wellington and Christchurch next week.