The MATERIAL GIRL, who opened the Lisbon, Portugal awards with a performance of her new single HUNG UP, prepared a special speech to honour Geldof, who was the recipient of the special Free Your Mind award, which recognises the rocker's campaigning against world poverty and for free trade.
Madonna says, "This special award is for a man whose passion to improve the lives of people all over the world has inspired me and should inspire you. He's also a hero to Africa.
"In 2005, my hero, is someone who has never been afraid to speak his mind, to ruffle weathers, to get the job done, to get down in the trenches and kick some a*s.
"It's not always been considered fashionable to make the world a better place... I've taken some s**t for that myself.
"You drive me crazy, you f**ker! I couldn't be more proud than at this moment to present this award."
Geldof graciously accepted the award, saying, "This means much more to me than many of the other things that are given to me."