Wightman became the second quickest British 1,500metre runner of all time – eclipsing Seb Coe and Steve Cram in the process – with his time of 3:29.47 at the Diamond League meeting in Monaco. He also clocked a personal best over the shorter 800m to mark himself as a potential Olympic medal contender in 2021.
Reekie, meanwhile, was rewarded after setting national indoor records over the 800m, 1500m and mile in the space of just two weeks in February.
Wightman, who beat Andrew Pozzi in second place with Farah in third, said: “It’s a great honour especially in a year where we didn’t think there were going to be enough performances to give any kind of awards out.
“To be given this isn’t something I expected back in March when it didn’t look like anything would happen.
Meanwhile, Reekie, whose 800m indoor best was the quickest in the world since 2006 and who edged out training partner Muir, said: “I had such a difficult year so it’s nice to win the award. I’m happy I even got to race this year.
“I think I’ve got a lot to improve on and I can work on and just push myself every year even harder and keep improving from that.”
Max Burgin, an 800m runner, was named the best junior male, with fellow 800m athlete Keely Hodgkinson taking the female junior award.