The Portuguese midfielder received the award at a ceremony at the Manchester Opera House after being selected by his fellow professionals.
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Fernandes enjoyed a record-breaking campaign as United finished third in the Premier League and secured their return to the Champions League.
The 31-year-old registered nine goals and 21 assists in the league, breaking the single-season assist record previously shared by Thierry Henry and Kevin De Bruyne.
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His performances saw him finish ahead of fellow nominees Declan Rice, Gabriel Magalhaes, David Raya, Erling Haaland and Rayan Cherki.
Fernandes becomes the first United player to receive the award since Wayne Rooney in 2010. He has also completed a clean sweep of the campaign’s leading individual honours after winning the Premier League Player of the Season and Football Writers’ Association Footballer of the Year awards.
The United skipper was also selected in the PFA Premier League Team of the Year alongside Rice, Haaland and Cherki.
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Manchester City striker Khadija Shaw collected the women’s award after scoring 21 goals in 22 Women’s Super League matches.
City defender Nico O’Reilly was named the men’s Young Player of the Year, while Arsenal’s Olivia Smith received the women’s prize.
Photo: Jeff Spicer/Getty Images