Guerra's album, "La Llave De Mi Corazon," and its playful, upbeat title track also won the singer and his band, 440, trophies for best merengue album and tropical song at the event Thursday night.
Praise for "La Llave," also extended to its production, as the album garnered the award for best engineered album.
"I want to dedicate this award to the Dominican Republic," said Guerra of his homeland upon being named the Latin Recording Academy's person of the year, recognizing career and personal achievements. Guerra talked about Tropical Storm Noel, which recently thrashed the Caribbean nation and killed several dozen.
"In recent days, we've had some difficult moments ... But we are a strong and courageous people," said Guerra.
Guerra, credited with popularizing the bachata dance rhythms outside the Dominican Republic, bested Miguel Bose, reggaeton duo Calle 13, Ricky Martin and Alejandro Sanz for the album of the year prize.
Among the artists he beat out in his record of the year win were Martin and other superstars: Beyonce and Shakira, and Bose and Paulina Rubio.
Martin and Calle 13 each picked up two trophies.
The awards show made its Las Vegas debut, and the flavor of Sin City was evident from the get-go, when Martin opened the show with a rousing performance along with the blue-headed musical trio Blue Man Group.
The superstar performed a medley of "Lola" and "La Bomba," while Blue Man Group added their signature frenetic dance visuals. It was one of the show's several mash-ups of nominees and Las Vegas Strip staples.
Later, reggaeton star Daddy Yankee performed "Ella Me Levanto," flanked by the scantily clad showgirls of "Folies Bergere," each wearing colorful feather headpieces.
Backstage, Martin praised Guerra.
"Juan Luis Guerra is ... the father of Latin American poetry and whoever thinks the contrary, well, get off the bus," Martin said.
The Puerto Rican superstar took home the award for long form music video for "MTV Unplugged" and for male pop vocal album.
Fellow Puerto Rican group Calle 13, which also started the evening with four nominations, picked up the trophy for urban music album for their politically charged "Residente o Visitante," beating out Daddy Yankee, Orishas and Ivy Queen.
"We are super thrilled, nervous, this has been a lot of pressure," singer Rene Perez said onstage. "To all of Mexico, Colombia, from the heart - to all Latinos: From here, no one will remove us."
One track, "Pal Norte," on which the group highlights hardships faced by immigrants trying to enter the U.S. illegally, nabbed the urban music song trophy, which recognized songwriting in the genre.
Jesse & Joy, siblings from Mexico who scored a hit this year with "Espacio Sideral" off their debut album, garnered the new artist trophy. The pair beat out several newcomers, including pop singer Alejandra Alberti, and Cuban drummer Dafnis Prieto.
Among the other winners, Italian singer Laura Pausini won the trophy in the female pop vocal album category for "Yo Canto," while Michael Salgado won the Norteno album trophy for "En Vivo."
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