Twelve judges, including Jancis Robinson MW and Oz Clarke, spent three days tasting at the Park Hyatt hotel in Mendoza, and they awarded nine trophies and 24 gold, 145 silver and 199 bronze medals.
Robinson said: "Overall the wines were much more sophisticated than they had been on my last visit in 2002. There were fewer really over-ripe, over-alcoholic wines than I was expecting."
Eight of the nine trophy winners, such as Bodega Norton's 2003 Norton Privada and Fabre Montmayou's Gran Reserva, are on sale in the UK for below £10.
Wines of Argentina UK director James Forbes said: "It goes a long way to proving my view that, when it comes to making wine of high quality at a price that everyone can afford, it is difficult to beat Argentina."
Judges double blind tasted the wines, only knowing the grape variety and whether it was priced above or below £10. The wines will be available to taste at the Argentine embassy on April 4. Full details are available from the WoA office.