Fiji internationals Napolioni Bolaca and Aminiasi Tuimaba were joined in star-studden men's line-up by Fiji born Tavite Veredamu, who impressive season with France.
Bolaca was the top point-scorer on the global circuit last season while Tuimaba earned a second successive selection after finishing third in the series try-scoring tally, behind Ireland's Jordan Conroy and American speedster Carlin Isles.
Bolaca was also awarded the 'Pressure Play' award for his Cup final try against South Africa at the Sydney Sevens, while the Fijiana women's side took out the 'Momentum Tracker' award, a stats-based gong which analyses teams' capacity to improve throughout the season.
World Rugby Chairman Sir Bill Beaumont congratulated the award winners for continuing to excel on the field despite a number of distractions off it.
"Although the series this year was forced to conclude early there was no shortage of speed, skill and spectacular tries on display from players and teams, combined with unpredictable and awe-inspiring moments that embody the values of the game," he said.
"And remind us that rugby sevens is a truly unique and thrilling sport that will once again showcase itself to the worldwide audience at the Olympic Games in Tokyo next year."
New Zealand claimed both the men's and women's World Series titles after the season was cut short because of the coronavirus outbreak.
The Fiji men finished a distant third in their title defence while the Fijiana women improved three places to seventh.
A date for the start of 2021 season is still to be confirmed, with the opening rounds in Dubai, Cape Town, Sydney and Hamilton already cancelled.