The award recognised Sir Paul as one of the most formative influences on the global music scene and as a founding father helping Liverpool earn the recent accolade as Most Musical City in the UK.

Sir Paul said: "I don't know what to do after an introduction like that.

"What can I say?

"I want to thank my mum and dad, Jim and Mary. I also want to thank my brother Mike who is here tonight.

"I want to thank my mates, Ringo, George and John. Many years ago there were four little boys, born here in Liverpool, and we went on to do quite well.

"Thanks to all my family, to all you for coming along, to everyone in Great Britain, to everyone in America for voting in Mr Obama."

Around 10,000 music fans watched the awards ceremony and an estimated 30 million viewers are thought to have tuned in to watch on MTV's channels across the world including, for the first time, in the Middle East on MTV Arabia.

Pop star Katy Perry kicked off the night in all-American style riding atop a giant lipstick.

Dressed in an American footballer's kit, she performed her hit I Kissed A Girl.

The first guest performance came from R&B superstar Beyonce, with If I were a Boy, but it was the newly elected US president who drew the biggest cheers.

Jared Leto, from 30 Seconds to Mars, had the crowd standing in honour of the US President-elect Barack Obama.

Amid rapturous cheers, he said: "Liverpool, lets hear it for Barack Obama."

Perry responded: "Maybe Europe will love us again now."

The Sugababes joined in the American theme, Keisha, Mutya and Heidi taking to the stage each wearing red, white or blue.

Take That returned to the EMAs for the first time since 1994, when they won Best Group, and performed Greatest Day.

Kanye West, 31, gave a barnstorming performance of Love Lockdown before being joined on stage by British hip hop singer Estelle, 28, for their international hit American Boy.