The award recognises Gilbert's commitment to community engagement and pro bono work, and his success in creating one of Australia's most successful and well respected law firms in just 20 years.

Gilbert said he was surprised but pleased to be honoured with the award, particularly because it was nominated by his peers.

"It was a nice surprise to find out that I had been nominated and short-listed, but I'm especially pleased that the success of Gilbert + Tobin, and all those who have contributed to the firm in the past 20 years, has been recognised through the award," Gilbert said.

The BRW ANZ Private Business Awards are a new venture, introduced this year to "highlight the spirit of entrepreneurship, and acknowledge outstanding achievements". The winners will be featured in BRW's listing of the country's top private businesses - the Top 500 Private Companies.