Little Big Town, Lauren Alaina, Florida Georgia Line and a CMT Crossroads collaboration between Jason Derulo and Luke Bryan also made the list of winners for the event widely known as the loudest night in country music.
Urban and Underwood shared the Collaborative Video of the Year prize for their work on "The Fighter."
Urban won the top trophy -- Video of the Year -- for "Blue Ain't Your Color," which was also named Male Video of the Year. He also picked up another honor as CMT Social Superstar of the Year Presented by Pepsi.
In addition to her win with Urban, Underwood won the Female Video of the Year category with "Church Bells."
Here's a complete list of winners:
Video of the Year: Keith Urban, "Blue Ain't Your Color"
Male Video of the Year: Keith Urban, "Blue Ain't Your Color"
CMT Social Superstar of the Year Presented by Pepsi: Keith Urban
Collaborative Video of the Year: Keith Urban featuring Carrie Underwood, "The Fighter"
Female Video of the Year: Carrie Underwood, "Church Bells"