The Cannes Film Festival is held annually in the resort town of Cannes, France, and is one of the world's oldest and most prestigious film festivals. The top festival award is the "Palme d'Or" (Golden Palm).
Feature Film Awards:
Uncle Boonmee Who Can Recall His Past Lives (Lung Boonmee Raluek Chat) by Apichatpong Weerasethaku.
Les Hommes et des Dieux (Of Gods and Men) by Xavier Beauvois
Award for Best Director
Mathieu Amalric for Tournee (On Tour)
Award for Best Screenplay
Lee Chang-dong for Poetry
Award for Best Actress
Juliet Binoche in Copie Conforme (Certified Copy) directed by Abbas Kiarostami
Award for Best Actor (tie)
Javier Bardem in Biutiful directed by Alejandro González Iñárritu
Elio Germano in La nostra vita (Our Life) directed by Daniele Luchetti
Un homme qui crie (A screaming man) directed by Mahamat-Saleh Haroun
Short Film Awards:
Palme d’Or – Short Film
Chienne d’histoire (Barking Island) directed by Serge Avedikian
Jury Prize – Short Film
Micky Bader (Bathing Mickey) directed by Frida Kempff
This AP article (via Yahoo) talks about the big awards and this IMDb blog goes into more detail about the various festival honors.