The Argentina international also collected the Goal of the Season award whilst team-mates David Silva, Vincent Kompany and Denis Suarez gained recognition
The Argentina international was a landslide winner of the award, which was voted by fans, after scoring on 29 occasions in all competitions.
The 23-year-old has taken the Premier League by storm in his first season in England, helping Roberto Mancini's men challenge for the title, and he also collected the Goal of the Season award for his first in the 6-1 win away at Norwich.
Meanwhile, Monday night's derby win against Manchester United, in which the Blues beat Sir Alex Ferguson's men 1-0 to regain the lead in the title race on goal difference, won Moment of the Year
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Spanish starlet Denis Suarez received the Young Player of the Year, for his performances in the Elite Development squad.
Fellow Spaniard David Silva was the Player's Player of the Year and he also picked up the EA Sports Player Perfomance Index Award.
Club captain Vincent Kompany was recognised for his work away from the pitch, receiving the City in the Community Player Award.