The attacking midfielder was handed the trophy at a ceremony in the Spanish capital and is desperate for more trophies and accolades in the years to come
The Real Madrid star netted six goals in five games during this summer's tournament in Brazil to beat the likes of Thomas Muller (five goals), Neymar, Lionel Messi and Robin van Persie (all four goals) to the prestigious individual award.
The 23-year-old scored once against Greece, Cote d'Ivoire, Japan and Brazil, while netting a double in the round of 16 match versus Uruguay.
"I’m proud because it’s a dream and I hope to be able to win more. I think I’m at the ideal club to do that," James commented.
"Everyone on the team is an excellent person. It is a tight group and we hope to win titles, which is what the club wants. I’m happy."
The Madrid midfielder's superb volley against Uruguay was voted goal of the tournament in an election organised by fifa.com, but James himself preferred another strike.
"Personally I preferred the one against Japan."