Alli, 19, follows in the footsteps of last year’s winner Harry Kane and is the third member of the current Tottenham side to claim the award after Kyle Walker collected the prize in 2012.
The Tottenham midfielder had been the overwhelming favourite to claim the prize after a first season in the Premier League where he has scored 10 goals and provided nine assists to help propel Mauricio Pochettino’s side on their remarkable title run.
His fine form has also seen Alli earn his first senior England caps, scoring against France at Wembley in just his second appearance for Roy Hodgson’s side before being named man of the match in last month’s 3-2 victory over Germany.
Little over a year ago Alli was claiming the Football League’s equivalent prize and the former MK Dons midfielder has so swiftly made the step up to the top echelon of English football that he has now claimed the prize.
Alli was not at the Grosvenor Hotel to claim his award after Pochettino confirmed his squad would not be attending the event.
Title chasing Spurs play host to West Brom on Monday night with nothing less than a victory required to keep the pressure on league leaders Leicester.
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Ossie Ardiles collected the award on behalf of Alli, who sent a video message in his absence.
"Thank you Ossie, the Tottenham legend for receiving this award for me," Alli said.
"Sorry I can't be there tonight but we have a big game tomorrow. Thank you for to everyone who voted for me.
"I feel honoured to win such a prestigious award and thank you to my friends, family and all the staff at Tottenham."
