Masters, 29, won five Paralympic Games medals at Pyeongchang 2018, including her first gold.

Masters took the gold medal in the 1.5 kilometres sprint classic sitting and the 5km sitting event in cross-country skiing, despite battling through an elbow injury sustained just prior to the Games

She also claimed silver medals in both the 6km sitting and 12.5km sitting events in biathlon, and bronze in the 12km cross-country.

The four-time Paralympian now has a total of two gold, three silver and three bronze medals, and has competed in rowing and cycling at London 2012 and Rio 2016, respectively, and biathlon and cross-country at both Sochi 2014 and Pyeongchang 2018.

"Oksana Masters is one of the most recognised female Paralympic athletes and her journey in life and in sports is truly inspirational," a WSF statement read.  

"Her life began in an orphanage in Ukraine, and through determination, passion and hard work, Masters achieved her dream of earning Paralympic gold in Pyeongchang."

US hockey player and Pyeongchang 2018 gold medallist Maddie Rooney was named team sportswoman of the year.

Rooney, a goaltender, played in four games at Pyeongchang 2018, including the gold-medal match against Canada which the Americans won in a shoot-out to claim their first Olympic gold medal in 20 years.

She also registered a shut-out against Finland in the semi-finals and finished with a 1.16 goals-against average to lead all goaltenders and a 0.945 save percentage.

Furthermore, Rooney helped the US to win gold at the Four Nations Cup in 2017.

The WSF recognises one individual athlete and one team athlete each year whose performances over the previous year have been exceptional.

Last year’s individual winner was swimmer Katie Ledecky, while tennis’ Serena Williams and gymnastics’ Simone Biles are among past winners.

American swimmer Erin Popovich is the only other Paralympic athlete to have received the honor, having won in 2005.

The award has been given out every year since 1993.

American basketball player Maya Moore won the team athlete award last year.

Two-time Olympic 800 metres champion Caster Semenya of South Africa was honored with the Wilma Rudolph Courage Award.

In 2009, an 18-year-old Semenya won her first International Association of Athletics Federations World Championship gold medal in the 800m, which came with new-found notoriety and increased scrutiny.

"Forced into the spotlight, Caster found herself the focal point of criticism from some in the athletic community; suddenly the spokesperson for a fight that she never asked to be a part of, she embraced the role with dignity and courage," the WSF said of Semenya, who is currently challenging the legality of the rules regarding athletes "with differences of sex development"

"Through it all, Caster has remained an uncompromising, dominant force and has spent the majority of her career as a courageous champion and adversary both on and off the track."

The Billie Jean King Leadership Award, an honor that recognises an individual or group who has demonstrated outstanding leadership and made significant contributions to the advancement of women through achievements in sport and the workplace, was awarded to Anthem, Inc. President and chief executive Gail Koziara Boudreaux - number five on Fortune’s "Most Powerful Women list" for 2018.

A multi-sport athlete, Boudreaux was named Ivy League Player of the Year three times while a member of the women’s basketball team at Dartmouth College and was inducted into the New England Basketball Hall of Fame in 2003.

Now, as captain of a leading health benefits provider, she translates lessons learned on the court to coach more than 50,000 employees.

"More than 40 years ago we founded an organisation to recognise the accomplishments, the breakthroughs, and the fearless female athletes creating change across the world," WSF founder Billie Jean King, a 12-time women's singles Grand Slam champion in tennis, said.

"Tonight, we have the privilege of honouring some of those important individuals and teams who continue to speak out for equity and equality, challenge the status quo and compete to their fullest potential.

"This year consisted of groundbreaking accomplishments by female athletes, but it also highlighted the many hurdles that we’ve yet to overcome.

"Those very hurdles underscore the continuous need for organisations such as the Women’s Sports Foundation."