A prestigious theatre award for the best play of the year has been renamed in honour of Michael Billington, the Guardian’s chief theatre critic. Billington, who is stepping down this month after 48 years in the role, said he was “unbelievably chuffed and deeply flattered” that the prize at the annual Critics’ Circle Theatre awards now bears his name. “I’m thrilled that it is for best play,” he added, “since I’ve always passionately believed that new writing is the beating heart of theatre.”

Three of the Critics’ Circle Theatre awards are already named for journalists. The Peter Hepple award for best new musical recognises the former editor of the Stage, and the Jack Tinker award for most promising newcomer is in honour of the former Daily Mail critic. The Trewin medal for best Shakespearean performance is named after the critics John and Wendy Trewin and their son Ion Trewin, the influential publisher.

The awards were founded in 1989. Billington is a trustee of the Critics’ Circle and there are more than 100 members of its drama section. Critics independently cast their votes for the awards categories based on personal choice, free of any panel discussion.

The Critics’ Circle Theatre awards will take place on 11 February at the Prince of Wales theatre in the West End in London. Last year’s best new play was Matthew Lopez’s epic drama The Inheritance, which also picked up two other prizes.

Billington will continue to write regularly for the Guardian. Arifa Akbar succeeds him as chief theatre critic in the new year.