She beat five other shortlisted titles including Will Self’s “Umbrella”, which was the bookmakers’ favourite, The Telegraph reported Tuesday.
Mantel, 60, received a cheque for 50,000 pounds at the event at Guildhall, London.
“Bring Up The Bodies” chronicles the downfall of Anne Boleyn through the eyes of Thomas Cromwell, chief minister to Henry VIII.
Peter Stothard, chairman of the judges, hailed Mantel as “the greatest English prose writer” of modern times.
Only two writers have won the prize twice before: JM Coetzee and Peter Carey, who hail from South Africa and Australia respectively.
Mantel last won the prize in 2009 for her novel “Wolf Hall”. Over 100,000 copies of “Bring Up The Bodies” has has been sold so far in Britain.