The award, which was presented in Hong Kong, goes to the executive who has had "the greatest individual influence on the aviation industry, through outstanding strategic thinking and innovative direction for the growth of the business and the industry", according to the citation.
"The Gulf carriers have progressively disturbed the global airline equilibrium over recent years, and 2012 has seen a rapid escalation of this process. None has been more distinctive and mould-changing than Etihad Airways, under the leadership of James Hogan," said Capa executive chairman Peter Harbison, who presented the award.
"The strategy James has adopted - of penetrating each of the key regions with targeted partnerships and equity investments - has set a new, and irreversible, direction for the global airline industry," he added.
Mr Hogan said he was deeply honoured to receive the award, particularly at this point in the airline's brief nine-year history, and also paid tribute to the hard work and dedication of the airline's 10,000 staff worldwide.
"This award is a powerful endorsement of the airline's 'game-changing' strategy of building strong bilateral partnerships with airlines the world over," he said. "Partnerships and equity investments have been, and continue to be, key to achieving scale and strengthening our competitive position. Our codeshares, for example, with 41 partner airlines expand our network of destinations to 327 major cities - more than any other Middle Eastern carrier."
Mr Hogan also acknowledged the support of the airline's shareholder and board of directors.