Youngest ever seven-time world champion Marquez took top billing as he received his record-breaking 2018 MotoGP trophy, along with Moto2 world champion Francesco Bagnaia (Sky Racing Team VR46) and Moto3 world champion Jorge Martin (Del Conca Gresini Moto3) after their incredible seasons.
The top Independent Team rider title went to Johann Zarco, as it did in 2017 when he was a rookie, following another impressive season ahead of a new challenge in 2019.
Rossi had a brilliant start from 16th place at the Valencia GP, gaining five positions in the first corner alone.
However, he fell victim to the treacherous conditions in Turn 12. Still, the Yamaha rider did not give up. He ran back to his bike and rejoined in 13th position, which he held until the chequered flag came out, a result that saw himhold on to third position in the championship standings.
Dani Pedrosa, who was competing in his last race was named a MotoGP Legend.
After taking the third most podiums of all time behind only Rossi and Giacomo Agostini, The Spaniard retires at the end of 2018 - and now joins the ranks of MotoGP Legends.
Marquez, who was honoured by Dorna Sports CEO Carmelo Ezpeleta, suffered a crash from third place at Turn 9 on lap seven and was therefore unable to take part in the second stint.
Repsol Honda Team also secured the Team Championship, thereby earning back-to-back MotoGP triple crowns, having already achieved the riders title in Japan and the constructors title in Malaysia.