He saw off competition from acts including Jimmy Carr and magician Paul Daniels, winning with his gag: "Conjunctivitis.com - that's a site for sore eyes."
The event, held at the Cuckoo Club in London's West End, also saw awards given to big names including Alan Carr, Rob Brydon and Dom Joly.
Jon Richardson, best known for his appearances on 8 Out of 10 Cats, was named funniest man, with Andi Osho picking up the funniest women award.
Vic Reeves and Bob Mortimer were named funniest double act for the fourth year running and Gavin And Stacey star Rob Brydon was named a Loaded Legend.
Jack Whitehall's university comedy Fresh Meat was named funniest TV show and Jimmy Carr picked up the gong for funniest DVD at the awards.
The Loaded Lafta 2012 winners and nominees:
- Funniest Joke - Tim Vine: "Conjunctivitis.com - that's a site for sore eyes."
Nominees:
Jimmy Carr - "I know a couple who get on like a house on fire. They both feel trapped and are slowly suffocating to death."
Matt Kirshen - "I was playing chess with my friend and he said 'Let's make this interesting'. So we stopped playing chess."
Paul Daniels - "I said to a fella 'Is there a B&Q in Henley?' He said 'No, there's an H, an E, an N, an L and a Y'."
Sarah Millican - "My mother told me, you don't have to put anything in your mouth you don't want to. Then she made me eat broccoli, which felt like double standards."
- Funniest man - Jon Richardson
Nominees: Al Murray, Jimmy Carr, Lee Evans, Leigh Francis
- Best Stand-up - Alan Carr
Nominees: Jason Manford, Kevin Bridges, Micky Flanagan, Russell Kane
- Funniest Woman - Andi Osho
Nominees: Isy Suttie, Katy Brand, Morgana Robinson, Sarah Millican
- Funniest Double Act - Vic and Bob
Nominees: Anna Crilly and Katy Wix, Dick and Dom, Mitchell and Webb, The Chuckle Brothers
- Best Panel Show - Celebrity Juice
Nominees: 8 Out Of 10 Cats, Ask Rhod Gilbert, Shooting Stars, Would I Lie To You
- Funniest TV Show - Fresh Meat
Nominees: Chatty Man, Facejacker, Outnumbered, Phone Shop
- Funniest Film - The Inbetweeners
Nominees: Bridesmaids, Johnny English, Paul, The Hangover Part II
- Funniest Columnist - Gordon Smart
Nominees: Caitlin Moran, Grace Dent, Frankie Boyle
- Funniest TV Personality - Lee Nelson
Nominees: Angelos Epithemiou, David Hasselhoff, Ian Beale, Jedward
- Funniest Twitterer - Dom Joly
Nominees: Jimmy Carr, Matt Lucas, Richard Bacon, Stephen Merchant
- Funniest DVD - Jimmy Carr: Being Funny
Nominees: Angelos Epithemiou And Friends Live, Jason Manford Live 2011, John Bishop Live - Sunshine Tour, Tim Minchin And The Heritage Orchestra - Live At The Royal Albert Hall
- Funniest Podcast - Pappy's Flatshare Slamdown
Nominees: Dom Joly's Celebrity Comedy Podcasts, The Danny Baker Show, The Dave Gorman Podcast, The Ricky Gervais Podcast
- Funniest Radio Show - Danny Wallace, Xfm
Nominees: Christian O'Connell, Absolute Radio, Dave Berry, Capital FM, Hawksbee and Jacobs, Talk Sport, Shaun Keaveny, 6 Music Breakfast Show
- Best Internet Viral Show: Misery Bear
Nominees: Alan Partridge, Harry Hill, The Fast Show, Vic and Bob
- Best Newcomer - Pat Monahan
Nominees: Doc Brown, Frisky and Mannish, Josh Widdicombe, Roisin Conaty
Cannes Film Festival - in pictures
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They attacked "like a pack" raining fists on a defenceless legal secretary. Yesterday they walked free from court. No wonder their victim says she has been denied justice.
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London drug dealer pictured himself with bags of cannabis and wearing crown of £20 notes 
BarChick: Janet's Bar 
