Fallon's "balls" spot for Sony , which features multicoloured balls bouncing down the streets of San Francisco, triumphed at this week's Creative Circle Awards.
The TV commercial, for the manufacturer's Bravia LCD TV, picked up the overall platinum award at the event. It also scooped a gold for Best TV Commercial, another for Best International Commercial or Campaign and a number of silvers.
The panel of judges was chaired by the former FCB London creative chief Al Young, who said: "This year's platinum award doesn't go to Wieden & Kennedy and Honda. Instead, the top hoop goes to Fallon and the breathtaking 'balls' film for Sony Bravia.
"I remember exactly where I was and what I was doing the first time I saw it. 'Balls' is a beautifully simple idea - a rare and perfect balance of photography and music."
W&K's work for Honda did not go unrewarded, however. Its "impossible dream" TV spot picked up a gold in the Best Idea in 60 seconds or Over category and a bronze for Best Use of Production Budget Under £50,000.
Stink's Ivan Zacharias, the director of "impossible dream", was awarded the gold for Best Director.
Lowe London picked up the prize for the best agency of 2005 - a unanimous decision by the judges. Young said: "2005 was more difficult (for Lowe) than most, which makes campaigns for Stella Artois, Sure and Tesco, among others, doubly impressive."
Lowe won several golds for its Stella Artois work - one for Best Cinema Commercial for "le sacrifice" and four for "ice-skating priests". It also won two golds for its press work for Stella Screen.
The radio advertising category saw Bartle Bogle Hegarty pick up the Best Radio Commercial gold for ITV's Coronation Street.
JWT also won five golds, including three for its Golden Wonder work.