The award is presented annually to the artist with the world's best-selling single of the year across all digital formats from the organisation that represents the recorded music industry worldwide.
Cyrus' hit song, released in January 2023, scooped the record of the year at the Grammys as well as the best solo pop performance.
In addition the chart-topping track was named the longest running number one single in the UK by a female solo artist this decade so far by the Official Charts Company, following 10 weeks at the top.
Lewis Morrison, director of global charts and certifications at IFPI, said: "We are delighted to present the IFPI Global Single Award to Miley Cyrus, who produced the song of 2023 with Flowers.
"Topping the charts in so many countries simultaneously, the song - along with its message of empowerment - resonated across the world and is the definition of a truly global hit.
"Congratulations to Miley and her team for this incredible achievement.
"It is also fantastic to see so many nationalities and genres represented in the IFPI Global Single Chart."
Cyrus, 31, who found fame on the hit Disney show Hannah Montana, has had three chart-topping singles in the UK, with We Can't Stop and Wrecking Ball reaching number one before Flowers.
Following on from her debut album Meet Miley Cyrus in 2007 the US singer reinvented her look and sound for 2010 album Can't Be Tamed, later coming out with Bangerz in 2013, which peaked at number one in the UK charts.
Her latest album Endless Summer Vacation, featuring Flowers, also peaked at number one following its release in 2023.
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