Talented teenager has been in fine form for Watford scoring four goals in seven games in March to land the personal accolade
Murray, 18, who has represented Ireland at under-17 and U19 level, caught the eye of the Football League panel after a stellar March. The teenager bagged four goals in seven games for the Hornets during the month and has played all but two of the club's last 17 games.
"It's a proud moment for me," said the young midfielder. "I've played a few games recently and scored a few goals but there are a lot of other good young players in the league. It's hard to win this award with so many young players out there."
The Watford-born player started against Tottenham Hotspur in the FA Cup in January and has barely looked back since. He made his debut on the final day of last season and impressed Watford manager Sean Dyche to break into the first-team squad at the start of the year.
"It's a fantastic achievement for a young man enjoying his football. Sean is another player who has come through our system so it is good for us and for him. He's very young, he's only 18 and he's developing nicely," said Dyche.
He recently inked a new contract with the Championship club until 2015 and his manager is optimistic that he will remain at Vicarage Road in the short term.
Dyche added: "We want to develop talent. But there is a financial situation at the club that always needs addressing. But we feel we can keep players until the time is right and Sean's on a nice pathway."
Murray, who was previously courted by Manchester City before signing for his hometown club, aims to make the step up to the Premier League soon.
"I definitely feel I can do that. But I need to cement my place in this team before I can make a big impact," concluded the award winner.