Forrest was up against other finalists in breast cancer researcher Professor Arlene Chan, paediatrician Dr James Fitzpatrick and online education pioneer Dr Martin Dougiamas.
The mining magnate was recognised not for his business success, but for his fight against slavery and his philanthropic efforts.
The National Australia Day Council commended Forrest for supporting around 250 causes.
“He is the first Australasian to pledge to give away the overwhelming majority of his wealth,” the council said.
“Never daunted by the scale of challenge, Andrew devotes his relentless energy to society's most vulnerable, tirelessly working to highlight Australia’s Indigenous disparity and drawing attention to and liberating 45.8 million people trapped in modern slavery around the world.”
The council also congratulated FMG for being a significant employer of indigenous people.
Forrest will go up against other state and territory finalists at the national awards, to be held on January 25 in Canberra.
