Iglesias scooped nine honors, including Latin Artist of the Year, while his Euphoria disc was named Latin Album of the Year and Latin Pop Album of the Year.
Colombian superstar Shakira picked up six prizes included Latin Pop Airplay Solo Artist of the Year and Hot Latin Songs Female Artist. Her track "Waka Waka (This Time for Africa)" was voted the Latin Digital Download of the Year.
Other big winners were newcomer Prince Royce, who took home four awards, Aventura, Daddy Yankee and Juan Luis Guerra, who all received three honors apiece.
The 22nd annual Billboard Latin Music Awards were broadcast live from Miami, Florida on Thursday.