Upon receiving the award, Todd Phillips, the director of 'Joker' thanked "Warner Bros. and DC for stepping out of their comfort zone and taking such a bold swing on me and this movie," reported The Hollywood Reporter.
Speaking about Phoenix, who joined Phillips onstage, the director said, "There is no movie without Joaquin Phoenix. Joaquin is the fiercest and brightest and most open-minded lion I know. Thank you for trusting me with your insane talent."
Meanwhile, controversial veteran director Roman Polanski bagged the runner-up Grand Jury Prize for his film 'An Officer and a Spy'.
Among the top winners, Roy Andersson won the Silver Lion for best directing for 'About Endlessness'. He took home the Golden Lion previously in 2014 for 'A Pigeon Sat on a Branch Reflecting on Existence'.
Luca Marinelli won the Volpi Cup for best actor for his role in 'Martin Eden' and Ariane Ascaride won the Volpi Cup for best actress award for 'Gloria Mundi'.
Earlier this month, 'Joker' received an eight-minute standing ovation at its Venice Film Festival premiere.
The upcoming flick is a part of the DC Comics universe but will serve as an independent origin story and will not feature any appearances by Batman and other caped crusaders.
After Venice, 'Joker' will head to Toronto for another festival bow. Apart from Phoenix, De Niro, and Beetz, the film also features Bill Camp, Frances Conroy, Brett Cullen, Glenn Fleshler, Douglas Hodge, Marc Maron, Josh Pais, and Shea Whigham. The film is slated to hit the theatres on October 4.
Here is the full list of winners:
Venice 76 Awards
Golden Lion: 'Joker', Todd Phillips
Grand Jury Prize: 'An Officer and a Spy,' Roman Polanski
Silver Lion for Best Director: Roy Andersson, 'About Endlessness'
Volpi Cup for Best Actress: Ariane Ascaride, 'Gloria Mundi'
Volpi Cup for Best Actor: Luca Marinelli, 'Martin Eden'
Best Screenplay: 'No. 7 Cherry Lane', Yonfan
Special Jury Prize: 'The Mafia Is No Longer What It Used to Be', Franco Maresco
Marcello Mastroianni Award for Young Actor: Toby Wallace, 'Babyteeth'
HORIZONS COMPETITION (ORIZZONTI)
Best Film: 'Atlantis,' Valentyn Vasyanovych
Best Director: Theo Court, 'White on White'
Special Jury Prize: 'Verdict,' Raymund Ribas Gutierrez
Best Actress: Marta Nieto, 'Madre'
Best Actor: Sami Bouajila, 'A Son'
Best Screenplay: 'Back Home,' Jessica Palud, Philippe Lioret, and Diasteme
Best Short Film: 'Darling,' Salim Salif
LION OF THE FUTURE
Luigi de Laurentiis Award for Best Debut Feature: 'You Will Die at Twenty,' Amjad Abu Alala
Best Restored Film: 'Ecstasy,' Gustav Machaty
Best Documentary on Cinema: 'Babenco - Alguem Tem Que Ouvir O Coracao E Dizer: Parou,' Barbara Paz
VIRTUAL REALITY COMPETITION
Best Virtual Reality: Celine Tricart, 'The Key'
Best Virtual Reality Experience: 'A Linha,' Ricardo Laganaro
Best Virtual Reality Story: 'Daughters of Chibok,' Joel Kachi Benson
The 76th edition of the film festival wrapped up on Saturday night after 11 nights of world premieres. (ANI)