The review presents the prize in an attempt to discourage writers from writing dreadful scenes of passion. It is bestowed upon the author of a bad passage in an otherwise well-written book.
Mailer, who died last month at the age of 84, earned the distinction for his lamentable description of an encounter in his recent novel, "The Castle in the Forest."
Four hundred guests turned out to toast Mailer's memory at a recent ceremony in London.
"We were sure he would have taken the prize in good humor," the judges told the BBC.
Jeanette Winterston's and David Thewlis' pitiable literary portrayals of sex were also nominated for the award and the offending passages from their novels were read aloud by actresses at the prize presentation.