BBC Cymru Wales Controller, Rhodri Talfan Davies, presented the award to players at a ceremony in the Millennium Stadium where they achieved their victory earlier this year.
Sportsmen and women from all over Wales gathered at the event which was attended by players from all four Welsh regions who were part of the Grand Slam squad.
Senior player Alun Wyn Jones, said: “This is a great honour for the squad and we are all delighted to have been honoured in this way.
“It was hard work on the field but we are determined to do everything we can to try and achieve that winning form again.”
The team was selected by a panel of experts who considered teams from all sporting disciplines who achieved success in 2012.
Group Chief Executive of the Welsh Rugby Union, Roger Lewis, said: “I am extremely proud of the players, coaches and backroom staff who worked so hard to help Wales win the Grand Slam.
“I know how hard everyone has worked for this and that means I can say with certainly it is a richly deserved accolade. We have some great players but it takes a great deal of expertise and determination to turn that flair into a winning team at the top level of rugby.”
WRU Chairman, David Pickering, said: “These players have achieved a famous victory in one of the greatest competitions in world rugby and they richly deserve recognition for that achievement.
“Wales went so many years without winning a Grand Slam and now we have won three in recent years. It proves that we not only have the players but the systems and structures in place to ensure we get the best form our talent.
“This award will help inspire even more young players throughout Wales to attempt to replicate the victories of their heroes in this Grand Slam team.”
Wales flanker Dan Lydiate, who was the RBS 6 Nations Player of the Tournament, was runner up as BBC Cymru Wales Sports Personality of the Year 2012 which was won Olympic Gold medal winner Jade Jones from North Wales.
