The Scottish-born designer will receive a £200,000 cash prize, as well as a bespoke mentoring programme which will help him to achieve his business goals over the next 12 months.
SEE SAUNDERS' CAREER HIGHLIGHTS
"I am delighted that Jonathan has won this year's award," said Vogue editor Alexandra Shulman. "His recent collections have shown that he is a designer who can provide beautiful clothes that women enjoy wearing and he is in a great position to build on his current success."
"I'm so happy about winning the fund," said Saunders. "The last 12 months have been an exciting time for me and my team and I'm very proud of all their hard work. We have many exciting plans for the near future and this along with the support network provided by the BFC will enable us to achieve our goals."