The comedy-drama take home five awards, including Best Motion Picture. Russell was named Best Director and both stars Bradley Cooper and Jennifer Lawrence were hailed as Best Actor and Actress at the ceremony in Los Angeles. The film also picked up the top accolade for editing by Jay Cassidy and Crispin Struthers.
The movie, however, has been overshadowed in the awards picture by more recent releases like Les Miserables which led the nominations with 10 nods including Best Picture, taking home only three honors including Best Supporting Actress for Anne Hathaway and Zero Dark Thirty, taking home only one for the original-screenplay.
Supporting actor award went to Javier Bardem for Skyfall, while David Magee won the adapted-screenplay honor for Life of Pi.
Other winners included Argo (Best Score), Life of Pi (Best Cinematography), Lincoln (Best Art Direction and Production Design), Flight (Best Visual Effects), Rise of the Guardians (Best Animated Film) and a tie between The Intouchables and Pieta for Best Foreign Film.
The complete winner's list for the 2012 Satellite Awards you can check here.