The Belgian midfielder was recognised by his fellow professionals for his performances in helping City to win both the Premier League and Carabao Cup, seeing off competition from club mates Ruben Dias and Ilkay Gundogan as well as Spurs striker Harry Kane and Manchester United playmaker Bruno Fernandes.
De Bruyne said: "The fact that players chose me for this award means that I have done really well.
"You want to win all the trophies with the team and this is probably the most important one as an individual in the league. To be voted be your competitors, by players who you compete with in every game - for them to choose you says a lot.
"They're the people in my view who know the most about the game. When you have these things you can show your kids and say, 'Look! This is what daddy did when he was younger'".
Meanwhile, De Bruyne's City team-mate Phil Foden was also rewarded with the PFA Young Player of the Year gong after an impressive season with Pep Guardiola's side.
Foden said: "I'm really honoured. There have been some great players in the past that have won it, and I feel really lucky because there has been so many great young talents this year.
"I'd like to thank my parents, all of the coaches and the players as well. Without the players creating chances for me, I wouldn't score and maybe I wouldn't win awards. Without them it wouldn't have been possible."