Kinross House has been awarded the 2013 Restoration Award from the Historic Houses Association, the BBC has reported.
The Association said the house and gardens had been saved from disrepair by Donald Fothergill.
Mr Fothergill bought the Scottish property in 2011.
The award was sponsored by Sotherby's UK and Chairman Harry Dalmeny said: "This is a heroic restoration of the grandest classical house in Scotland.
"To see an over devote such love, care and attention to a house, which will continue as a home, is a thorough vindication of the aims of the award."
President of the Historic Houses Association, Richard Compton, added: "The major restoration programme which has been undertaken over the past two years at Kinross has saved and revitalised this hugely important house from deterioration and possible future loss.
"The scale of the renovation is magnificent, and the house can now be seen by more people than perhaps ever in its long history – it is terrific to see the house coming back to life and being filled once again."
Kinross House was constructed in 1685 by Sir William Bruce and overlooks Loch Leven in Perth and Kinross.
(JP/CD)
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