SWEDISH film The Square has won the Palme D’Or at the Cannes Film Festival.

Ruben Ostlund’s “rich” satirical drama inspired by the arts world, which stars British actor Dominic West and Mad Men’s Elisabeth Moss, beat a host of top films to pick up the coveted title.

It was described by the star-studded jury as a “clever, witty and funny” film that deals with “important questions”.

The panel’s president, filmmaker Pedro Almodovar, added that it was a “rich” masterpiece that tackled the “horrific dictatorship” of political correctness.

There were also awards for Joaquin Phoenix and Diane Kruger, who were named best actor and best actress respectively, while a special new 70th Anniversary prize was awarded to actress Nicole Kidman.

As the extravaganza neared its end last night, a line-up of some of the film world’s biggest names took to the red carpet at the Grand Theatre Lumiere.

Phoenix won best actor for his performance in the thriller You Were Never Really Here, while Kruger won best actress for her role in Fatih Akin’s In The Fade.

Kruger said: “We don’t make films for awards. It cost me a lot personally. Thank you very much.”

Sofia Coppola claimed the best director prize for her civil war drama remake The Beguiled and the Grand Prix honour was given to Robin Campillo’s 120 Beats Per Minute.

Elsewhere, Leonor Serraille won the Camera d’Or best debut film award for Jeune Femme, while Qiu Yang’s A Gentle Night won the short film prize.

Best screenplay was a joint victory between Yorgos Lanthimos’ A Killing of a Sacred Deer, starring Nicole Kidman, and Lynne Ramsay’s You Were Never Really Here, while Andrey Zvyagintsev won the jury prize for Loveless.

Almodovar was joined on the judging panel by fellow filmmakers Paolo Sorrentino and Maren Ade, as well as actors Jessica Chastain, Will Smith and Fan Bingbing.

But despite his praise for the winning film, the I’m So Excited director, known for his interest in female-focused and LGBT storylines, broke down with emotion when asked about 120 Beats Per Minute.

His voice cracked as he commented on Campillo’s film delving into the Aids crisis in 1990s Paris and the lack of government support for sufferers.

“It was an injustice,” said Almodovar. “Campillo told a story that saved many lives.”