The film took top prize, while Sorrentino made off with the gong for Best Director.
Michael Caine also won the Best Actor award for his role in the film.
Sorrentino described the film as "a small film about the perception of freedom" which made it "a film more timely than ever in Europe."
This is the second time in three years that a Sorrentino feature has taken the 'Best Film' prize at the awards, which have been dubbed the 'European Oscars'.
The Neapolitan director's 'The Great Beauty' won the prize two years ago and went on to win an Oscar for Best Foreign Language Film in 2013.
All of which bodes well for Sorrentino in the run up to the next Academy Awards, which will take place on February 28th.
'Youth' is Sorrentino's second English language film after 2011's 'This Must Be The Place', starring Sean Penn.
The film stars Michael Caine and Harvey Keitel as two elderly friends who reflect on their lives while spending time at a health spa in the Swiss Alps.