building block of nature was finally detected in 2012 at the European Organization for Nuclear Research (CERN) centre's giant, underground particle-smasher near Geneva.
The discovery was hailed as one of the most important in physics.
"I am overwhelmed to receive this award," Higgs said in a statement issued by the University of Edinburgh, where he has worked for many years.
"I hope this recognition of fundamental science will help raise awareness of the value of blue-sky research."
The two scientists had been favourites to share the 8 million Swedish crown ($1.25 million) prize after their theoretical work was vindicated by the CERN experiments.
Belgian physicist Francois Englert and British physicist Peter Higgs at the European Organization for Nuclear Research (CERN) in Meyrin.(AP file photo)
To find the elusive particle, scientists at the Large Hadron Collider (LHC) had to pore over data from the wreckage of trillions of sub-atomic proton collisions.
The Higgs boson is the last piece of the Standard Model of physics that describes the fundamental make-up of the universe. Some commentators - though not scientists - have called it the "God particle", for its role in turning the Big Bang into an ordered cosmos.
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Higgs' and Englert's work shows how elementary particles inside atoms gain mass by interacting with an invisible field pervading all of space - and the more they interact, the heavier they become. The particle associated with the field is the Higgs boson.
Asked how it felt to be a Nobel winner, Englert told reporters by phone link to Stockholm: "You may imagine that this is not very unpleasant, of course. I am very, very happy to have the recognition of this extraordinary award."
CERN director general Rolf Heuer said he was "thrilled" that the Nobel prize had gone to particle physics.
This CERN image shows an experimental result in the search for the Higgs particle. The red lines depict traces of two high-energy photons and the yellow lines show tracks of other particles produced in the collision. (AP file photo)
He said the discovery of the Higgs boson at CERN last year marked "the culmination of decades of intellectual effort by many people around the world".
The Royal Swedish Academy of Sciences said the prize went to Higgs and Englert for work fundamental to describing how the universe is constructed.
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"According to the Standard Model, everything, from flowers and people to stars and planets, consists of just a few building blocks: matter particles."
The will of Swedish dynamite millionaire Alfred Nobel limits the award to a maximum of three people. Yet six scientists published relevant papers in 1964 and thousands more have worked to detect the Higgs at the LHC.
ULB emeritus professor Francois Englert gives a press conference after winning the 2013 Nobel Prize in Physics in Brussels. (AFP photo)
Englert, 80, and his colleague Robert Brout - who died in 2011 - were first to publish; but 84-year-old Higgs followed just a couple of weeks later and was the first person to explicitly predict the existence of a new particle.
Similar proposals from American researchers Carl Hagen and Gerald Guralnik and Britain's Tom Kibble appeared shortly afterwards.
A draft of the work of Higgs and Englert is displayed on a screen during a press conference to announce the laureates of the 2013 Nobel Prize in Physics.(AFP photo)