Swedish film The Square has won the Palme D’or at the Cannes Film Festival.

Ruben Ostlund’s satirical drama inspired by the arts world, which stars British actor Dominic West and Mad Men’s Elisabeth Moss, beat a host of top films to pick up the coveted title.

There were also awards for Joaquin Phoenix and Diane Kruger, who were named best actor and best actress respectively, while a special new 70th Anniversary prize was awarded to actress Nicole Kidman.

Ruben Ostlund, centre, with Juliette Binoche and  Pedro Almodovar.
Ruben Ostlund, centre, with Juliette Binoche and Pedro Almodovar (Alastair Grant/AP)

As the extravaganza neared its end on Sunday, a line-up of some of the film world’s biggest names took to the red carpet at the Grand Theatre Lumiere.

Joaquin won best actor for his performance in the thriller You Were Never Really Here, while Diane won best actress for her role in Fatih Akin’s In The Fade.

Diane said: “We don’t make films for awards. It cost me a lot personally. Thank you very much.”

Diane Kruger.
Diane Kruger (Thibault Camus/AP)

Sofia Coppola claimed the best director prize for her civil war drama remake The Beguiled and the Grand Prix honour was given to Robin Campillo’s 120 Beats Per Minute.

Elsewhere, Leonor Serraille won the Camera d’Or best debut film award for Jeune Femme, while Qiu Yang’s A Gentle Night won the short film prize.

Best screenplay was a joint victory between Yorgos Lanthimos’ A Killing Of A Sacred Deer, starring Nicole, and Lynne Ramsay’s You Were Never Really Here, while Andrey Zvyagintsev won the jury prize for Loveless.

Yorgos Lanthimos.
Yorgos Lanthimos (Thibault Camus/AP)

The jury that selected winners was headed by Spanish director Pedro Almodovar and included fellow filmmakers Paolo Sorrentino and Maren Ade, as well as actors Jessica Chastain, Will Smith and Fan Bingbing.

Before the ceremony kicked off, stars came together for a group photo, filling the bleachers with the likes of Adrien Brody, Ken Loach, Guillermo del Toro, Uma Thurman, Kirsten Dunst, Tilda Swinton and Jean-Paul Gaultier.

Speaking at a press conference after the ceremony, Pedro described winning film The Square as a “rich” masterpiece that tackles the “horrific dictatorship” of political correctness.

Pedro Almodovar.
Pedro Almodovar (Thibault Camus/AP)

But the I’m So Excited director, known for his interest in female-focused and LGBT storylines, broke down with emotion when asked about 120 Beats Per Minute.

His voice cracked as he commented on Robin’s film delving into the Aids crisis in 1990s Paris and the lack of government support for sufferers.

“It was an injustice,” said Pedro. “Campillo told a story that saved many lives.”