The Hollywood Reporter said in addition to earning top film honors at Friday's event at the LA Live complex, "Precious" helped Lee Daniels earn a best director award and allowed Geoffrey Fletcher to take home a best first screenplay award.
Other big winners on the night were Jeff Bridges, who earned a best actor award for his role in "Crazy Heart."
"It makes me weak in the knees," Bridges said while accepting his award.
The event also saw actor Woody Harrelson earn a best supporting actor award for his performance in "The Messenger," the Reporter said.
"Crazy Heart" also won a best first feature award at Friday's awards ceremony, while Scott Neustadter and Michael H. Weber were honored for best screenplay for "(500) Days of Summer."