Half a century after their original work, the new building block of nature was finally detected in 2012 at the CERN research centre's giant, underground particle-smasher near Geneva.
The discovery was hailed as one of the most important in physics.
The two scientists had been favourites to share the 8 million Swedish crown ($1.25 million) prize after their theoretical work was vindicated by the CERN experiments.
To find the elusive particle, scientists at the Large Hadron Collider (LHC) had to pore over data from the wreckage of trillions of sub-atomic proton collisions.
"The awarded theory is a central part of the Standard Model of particle physics that describes how the world is constructed," the Royal Swedish Academy of Sciences said in a statement.
"According to the Standard Model, everything, from flowers and people to stars and planets, consists of just a few building blocks: matter particles."
The Higgs boson is the last piece of the Standard Model of physics that describes the fundamental make-up of the universe.
Some commentators - though not scientists - have called it the "God particle", for its role in turning the Big Bang into an ordered cosmos.
The will of Swedish dynamite millionaire Alfred Nobel limits the award to a maximum of three people. Yet six scientists published relevant papers in 1964 and thousands more have worked to detect the Higgs at the LHC.
Englert, 80, and his colleague Robert Brout - who died in 2011 - were first to publish, but 84-year-old Higgs followed just a couple of weeks later and was the first person to explicitly predict the existence of a new particle.
Similar proposals from American researchers Carl Hagen and Gerald Guralnik and Britain's Tom Kibble appeared shortly afterwards.
Their combined work shows how elementary particles inside atoms gain mass by interacting with an invisible field pervading all of space - and the more they interact, the heavier they become. The particle associated with the field is the Higgs boson.
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correction : it is Swedish krona and not crown
Another scientist worked on these particles and won a Nobel prize- a scientist expelled from his faith and exiled and disowned by his bigoted nation.His name was Abdus Salaam.