The Luxembourgish actress took home the award for best actress in a leading role for her work on the highly-lauded picture "Corsage", in which she portrayed Empress Elisabeth of Austria.
"Corsage" led the nominations at the Austrian film awards this year, winning four out of eight nominations in a successful sweep.
Marie Kreutzer's film about the Austrian empress has made headlines for numerous reasons since its release last year, but on Thursday it was lauded for its cinematic aspects.
Along with Krieps' award for best actress, the film also picked up best cinematography (Judith Kaufmann), best costuming (Monika Buttinger) and best make-up (Maike Heinlein and Helene Lang).
The film's success at the awards was matched by that of "Eismayer", which picked up gongs for best actor in a leading role (Gerhard Liebmann), best actor in a supporting role (Luka Dimic), best screenplay (David Wagner) and best score (Eva Klampfer).
Tizza Covi and Rainer Frimmel's "Vera" took home the award for best film.
The awards ceremony took place on Thursday evening in Vienna.
