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The midfielder received the award from Sir Bobby Charlton at the inaugural FA England awards ceremony at St George's Park last night.
Gerrard finished ahead of runner-up Danny Welbeck and third placed Ashley Cole.
The Liverpool star joins Chelsea midfielder Frank Lampard and Manchester United striker Wayne Rooney in lifting the award twice.
Gerrard said: "The award means a lot to me when you look at the quality and standard of players in this squad.
"For me to be picked out to win an individual award is a bonus and something I'm really delighted with.
"It's always a proud feeling to play for this team and the manager believing in me and giving me the captaincy was a huge lift for my personal confidence.
"I think I've shown a level of consistency that maybe I haven't shown in previous years so it's been a good year.
"But the most important thing for me is achieving stuff with the team and unfortunately we lost out on penalties again in Euro 2012 and that's the reason I stayed around.
"I believe in the standard of players we've got and got confidence in them so that one day I can come away one of these tournaments with my head held high and there will be some success there."
Gerrard was one of England's best performers at Euro 2012 when he set up a series of goals with his delivery at set pieces.
He also won his 100th cap in the friendly international against Sweden in Stockholm in November.
More than 180,000 votes were cast by supporters on TheFA.com web-site - a record for the player poll since David Beckham was crowned in 2003.
Left-back Stephanie Houghton was voted the England women player of the year.
Houghton was a star performer for Team GB during the Olympic Games and scored the winner against Brazil.
Other notable award winners included the women's senior team who were voted Club England Team of the Year.
The men's Under-21 and women's Under-23 players of the year awards went to Liverpool midfielder Jordan Henderson and Toni Duggan respectively.
The evening was part of The FA's 150th anniversary calendar and celebrated the work of the Bobby Moore Fund for Cancer Research UK