The action film - which stars Tom Hardy and Charlize Theron - triumphed with six awards at the annual glitzy ceremony in the technical categories including Film Editing, Makeup and Hairstyling and Best Costume Design.
Speaking to accept the gong for Best Film Editing, Margaret Sixel, the wife of director George Miller, said: ''Thank you so much to the Academy. 'Mad Max' was best reviewed film of 2015. Audiences loved it and to be honoured tonight is just more than we ever hoped for.
''It took enormous creative courage and guts to make this film so I just want to say thanks to George Miller, Doug Mitchell and the whole crew that did six months in the Namibian desert to bring back the most amazing footage.''
Another big winner of the night was 'Spotlight', which picked up the coveted Best Picture award, as well as the gong for Best Original Screenplay, and 'The Revenant' - including a first Oscar for its star, Leonardo DiCaprio.
Other notable wins included Best Actress for Brie Larson for her portrayal of a kidnapped mother in 'Room' whilst Alicia Vikander picked up the Best Supporting Actress gong for 'The Danish Girl'.
Asif Kapadia and James Gay-Rees took home an Academy Award for their documentary about the late Amy Winehouse whilst Sam Smith and Jimmy Napes scored the Best Original Song award for the latest Bond theme tune, 'Writing's On The Wall'.
Meanwhile, host Chris Rock openly addressed diversity in the film industry in his opening monologue at the event, telling the gathered crowd that Hollywood is racist but not the ''burning cross [type of] racist''.
He said: ''Is Hollywood racist? You're damn right Hollywood's racist [but not] burning cross racist ... it's a different type of racist ... We want opportunity - give black actors the same opportunities as white actors. That's it. Leo [DiCaprio] gets a great part every year. What about Jamie Foxx?''
However, Chris also poked fun at the likes of Jada Pinkett Smith and Will Smith, who had chosen to boycott the event over the lack of diversity.
Leaving the audience roaring with laughter, he joked: ''Jada got mad, she said she's not coming. Doesn't she have a TV show? Jada boycotting the Oscars is like me boycotting Rihanna's panties - I wasn't invited!
''You get mad that Will was this good and didn't get nominated [for his role in 'Concussion']. It's also not fair that Will was paid $20m to do 'Wild Wild West.'''
Full list of winners at the 88th Academy Awards:
Best Picture: Spotlight
Actor in a Lead Role: Leonardo DiCaprio, 'The Revenant'
Actress in a Lead Role: Brie Larson, 'Room'
Directing: Alejandro González Iñárritu, 'The Revenant'
Original Score: Ennio Morricone, 'The Hateful Eight'
Original Song: 'Writings on the Wall', 'Spectre', Jimmy Napes and Sam Smith
Best Foreign Language Film: Hungary, 'Son of Saul'
Live Action Short Film: 'Stutterer', Benjamin Cleary and Serena Armitage
Documentary Feature: 'Amy', Asif Kapadia and James Gay-Rees
Documentary Short Subject: 'A Girl in the River: The Price of Forgiveness', Sharmeen Obaid-Chinoy
Actor in a Supporting Role: 'Mark Rylance', Bridge of Spies
Animated Feature Film: 'Inside Out', Pete Docter and Jonas Rivera
Animated Short Film: 'Bear Story', Gabriel Osorio and Pato Escala
Visual Effects: 'Ex Machina', Andrew Whitehurst, Paul Norris, Mark Ardington and Sara Bennett
Sound Mixing: 'Mad Max: Fury Road', Chris Jenkins, Gregg Rudloff and Ben Osmo
Sound Editing: 'Mad Max: Fury Road', Mark Mangini and David White
Film Editing: 'Mad Max: Fury Road', Margaret Sixel
Cinematography: 'The Revenant', Emmanuel Lubezki
Makeup and Hairstyling: 'Mad Max: Fury Road', Lesley Vanderwalt, Elka Wardega and Damian Martin
Production Design: 'Mad Max: Fury Road', Production Design: Colin Gibson; Set Decoration: Lisa Thompson
Costume Design: 'Mad Max: Fury Road', Jenny Beavan
Actress in a Supporting Role: Alicia Vikander, 'The Danish Girl'
Best Adapted Screenplay: 'The Big Short', Charles Randolph and Adam McKay
Original Screenplay: 'Spotlight', Josh Singer and Tom McCarthy
Jean Hersholt Humanitarian Award: Debbie Reynolds
Honorary Oscar: Spike Lee
Honorary Oscar: Gena Rowlands
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Subject: Mad Max: Fury Road wins big at the Oscars 
