Shelton, a five-season veteran coach on NBC's The Voice, walked away with two awards, and Lambert, a former first-season Nashville Star finalist, won the Female Vocalist of the Year award.
Shelton won Album of the Year for "Based on a True Story" in addition to Male Vocalist of the Year.
"Oh man! My phone's blowing up all of a sudden. Man, I've mentioned earlier today that if there was one award that would mean the most to me tonight, it would be Album of the Year... This is Scott Hendricks [next to me] and he's contributed more to country music over the last, what 20 years, than probably all of us in this room combined, and I'm honored to be able to share this with him. Thank you Scott," Shelton said after winning Album of the Year.
Shelton apparently didn't anticipate also winning Male Vocalist of the Year for the fourth time in a row.
"I want it! Woo, oh my gosh! Not to just completely echo the words of Miranda, but I really, swear, did not think this was going to happen this year, man. But it did! So I mean, thanks people! Let me first thank my record label Warner Bros," Shelton began.
"They have worked their butts off. We have been at the bottom before and somehow dug our way out and I'm up here talking about this... Thank you country radio. A special thanks to Tree Paine. She is my publicist and she is constantly cleaning up after me... Thank you to my wife. Thank you fans... Thank you everybody! Thank you!"
Lambert was also ecstatic to win Female Vocalist of the Year again -- also for the consecutive fourth time.
"Well hell, thank you! I didn't really think this one was going to happen this year. I sit here every time and I'm just so thankful to be here, and I've watched this category go by and I can't believe -- I have to pinch myself -- and [Taylor Swift], I was crying. [Your performance] was frickin awesome," Lambert said when accepting her award, making sure to mention all the category's nominees.
"That wall of stars, amazing. [Kelly Clarkson]? Really? I mean. Carrie Underwood, your performance blew me away tonight. [Kacey Musgraves], congratulations on [Best New Artist] That was awesome. These Texas girls got to stick together. Thank you, fans. Thank you Marion Kraft... my band and crew, my husband, I love you. Thanks for putting up with my crap! I love ya'll, thank you so much! It means the world."
In addition, Urban -- who will return for his second season as an American Idol judge in January -- Swift, and Tim McGraw all won Musical Event of the Year and Music Video of the Year for their collaborative song "Highway Don't Care." Urban and Swift laid down vocals on the track, which was recorded by McGraw.
Also during last night's awards show, Lambert and Urban took the stage together and performed.