The two long-time rivals played alongside each other in doubles action as they defeated Team World pairing Jack Sock and Sam Querrey.
Federer eventually clinched the Rod Laver-dedicated competition for Team Europe when he defeated Australia's Nick Kyrgios in singles action.
In what was a landmark event that saw the top two ranked players in the world team up for the first time in their careers, fans were treated to the surreal sight of Nadal and Federer on the same side, joking, laughing and cheering for each other.
The success and attention that the Laver Cup generated have led to calls for similar events.
Others are already waiting to see Nadal and Federer on the same team again with the event returning next year in Chicago.
"The tennis world was in awe when its two greatest rivals united," Laureus stated in their nomination video, aptly titled 'Once in Our Lifetime'.
"Roger Federer and Rafael Nadal joined forces to play doubles for Europe in the Laver Cup.
"The fiercest rivalry in the history of the game was put to one side for two thrilling hours. Players and fans around the world celebrated the rare moment in the history of the sport."
The other nominees include Olympique Marseille fan Kamel Zaroual scoring for his team and a man who crossed the Atlantic Ocean in a stand-up paddleboard, among others.
You can view the rest of the nominees and videos of the moments here.