Elton and Bernie Taupin received, on 4 November, 2002 the Music Industry Trusts Award for a 35-year collaboration which has produced classics like Candle In The Wind and Your Song.
Actor Kevin Spacey flew in from the US to present them with the award at a star-studded charity dinner in London.
The pair watched a video tribute from some of the biggest names in music, including songwriting legend Burt Bacharach.
Bacharach said: "You've written magnificent songs, really magnificent. You dazzle me sometimes with the speed with which you write them. It takes my breath away."
Bono, lead singer of Irish band U2 said: "How many partnerships can you put up there with Lennon and McCartney? Not many, maybe only a few. Certainly Elton John and Bernie Taupin."
Other stars who paid tribute to the duo included Sir Paul McCartney, George Michael, Sting, Lionel Richie, Brian Wilson and Carole King.
Among the video messages from the stars was a poignant tribute from Lonnie Donegan, which was recorded only four days ago.
In it Donegan said: "I've spent many hours with Elton - I've not spent enough time with Bernie - so if you see me advertised at your local do pop round and say hello, I would love that."
Sir Elton only learned of Donegan's death when he arrived at the Awards dinner. He said: "I had the pleasure of playing on some of his albums and I'm very, very sad tonight. He was a great influence and a terrific bloke, so God Bless you Lonnie."