The initiative, launched last year, is one of seven in the UK to be named in the KPMG Infrastructure 100, a league table showcasing the best projects in the world.
It was selected from hundreds of global submissions to the five regional judging panels.
The panels looked at feasibility, social impact, technical and financial complexity, innovation and the impact the projects had on society.
Scotswood, which was recognised in the Urban Regeneration category, joins other UK winners Edinburgh Food Waste, the Mersey Gateway, Cheshire and UWE New Campus, Bristol, alongside London-based projects, the Brixton Solar One, Thames Tideway Tunnel and the Royal London Hospital.
Richard Threlfall from KPMG UK said: 'The UK still punches way above its geographic and economic weight with seven of the 100 most important projects in the world across a range of sectors. This is despite a dwindling pipeline, construction projects being strangled by a lack of private finance, construction companies going bust and general gloom across the industry. We need to act now to develop private investment in infrastructure. This will not only to help kick start the UK economy but also to secure funding to ensure that our future infrastructure projects continue to be innovative. These pioneering projects go to the heart of solving the challenges the country faces, from regenerating our neighbourhoods to building education and health facilities fit for this century'.
The Scotswood scheme aims to bring new jobs and 1,800 new homes to a 60-hectare site in Newcastle's West End. It is being co-ordinated by New Tyne West Development Company (NTWDC), a public-private partnership of the City Council and builders Barratt Homes, Yuill Homes and Keepmoat Homes.
The scheme also plans to invest around £5m into the area's schools.