Joe Root has been named man of the series in recognition of match-winning Ashes tons in Cardiff and Nottingham.
Steve Smith took man-of-the-match honours in the fifth Test, having scored 143 to put Australia on track for a comfortable victory.
Smith was also the leading run-scorer of the series, having become the first Australian to score over 500 runs in an away Ashes since Matthew Elliott in 1997.
“I like batting in London, it’s been good here,” Smith said, having registered his maiden double-century in the second Test at Lord’s.
“It was disappointing for us to play the way we did in the other Test matches … but credit to England.”
The 26-year-old’s running battle with Root for top spot on the ICC’s Test batting rankings was one of the major subplots of the five-Test series.
Root registered a score of 130 at Trent Bridge and 134 in Cardiff, powering England to a 3-2 win in the five-Test series.
Those knocks earned him the Compton-Miller medal ahead of Stuart Broad, the leading wicket-taker of the series who snared an unfathomable 8-15 at Trent Bridge.
“He’s been outstanding and led out batting,” England skipper Alastair Cook told the BBC.
“He’s a fantastic player and he certainly deserve that.
“To win man of the series in an Ashes is an incredible achievement and we’re delighted for him.”
Australia’s chairman of selectors Rod Marsh and England counterpart James Whitaker settled on Root ahead of Broad because of his consistency throughout the series.
Root had mixed feelings about the gong after falling for scores of six and 11 at The Oval.
“They’ve outplayed us in this game. We’ve got to take that on the chin,” Root said.
“But we can celebrate.”
The 24-year-old was also England’s player of the series, an award judged by Australia coach Darren Lehmann.
Retiring opener Chris Rogers was named Australia’s player of the series, as judged by England coach Trevor Bayliss.
“I’ve never been up here, so this is pretty special,” Rogers said.
“A bit bittersweet that we didn’t win the series, but it’s nice to win this last Test and be a part of Michael’s (Clarke) last Test as well.”