Walton won the 1 News Ross Stevens award, while Wharton picked up TVNZ's best student documentary prize.
The $4000 Ross Stevens Award goes to the journalism student, who has showed the most promise in their first year at NZBS.
Walton said he felt honoured and privileged to have received the award.
"[I'm] feeling very grateful to be recognised. We've got a very talented class so I'm sure it would have been a very tough decision for them. I'm very fortunate."
Walton said he hoped to work in print or digital media as he had found himself being able to articulate himself better in words.
"[Journalism] gives me a sense of purpose. It's a really important part of society and democracy, being the fourth estate. It's my passion," he said.
Three-day Kiwi-tracking trip
For Wharton, a Kiwi-tracking trip resulted in a documentary, which earned him the second annual TVNZ student documentary award, worth $1000.
$1000 to Daniel Wharton for Best Documentary and $4000 to Steven Walton who won the 1 News Ross Stevens award.
Wharton's documentary Rein & Brew: The Kiwi dogs involved 10 hours of tramping through dense bush on Motuara Island in Queen Charlotte Sound, where he got up close with the national bird.
"It's a pretty rare opportunity. I'm quite proud of myself and the team so it's great to see it all pay off," Wharton said.