Mr Cross won top billing in the latest round of the awards programme organised by the Entrepreneurial Exchange.
The awards, in association with Deloitte and media partner The Herald, are Scotland's longest-standing annual awards for growth-oriented entrepreneurs.
Since becoming executive chairman of Parkmead Group in November 2010, Mr Cross has led a series of acquisitions by the company in the North Sea and the Netherlands.
Mr Cross previously grew Dana from a small Russia-focused operation into a business with a significant portfolio of interests in the North Sea and overseas. It was bought by the Korean National Oil Company for $3 billion in late 2010.
Mike McGregor, partner and head of entrepreneurial business at Deloitte, and event judge, said: "Tom's record with Dana is outstanding and exemplifies an individual who understands how to get the best out of people and business opportunities.
"Tom can set a clear vision for each of his business interests and the momentum he is already generating at the Parkmead Group demonstrates his team and the market's advocacy of his leadership and strategy."
Hermann Twickler, founder of Dundee-based PressureFab Group, won the Emerging Entrepreneur of the Year award.
Mr Twickler has grown the company he founded in 2009 into a business that counts some of the largest oil and gas sector operators among its customers.
Mr McGregor said: "Hermann's establishment and subsequent positioning of PressureFab is very impressive against the backdrop of the current economic climate."
The awards were presented at a dinner at the Glasgow Hilton.