The Reds boss was named the best in the division by his fellow coaches and was delighted to join the likes of Bill Shankly and Bob Paisley.
Liverpool manager Jurgen Klopp said it is an “honour” to be given the League Managers Association Manager of the Year award.
Klopp guided Liverpool to the Premier League title this season, finishing 18 points ahead of nearest challengers Manchester City.
It is the club’s first domestic crown in 30 years and the German’s work this term has been celebrated by his peers.
Klopp said: “I’m absolutely delighted to be named the winner of the League Managers Association Manager of the Year Award for this wonderful Sir Alex Ferguson Trophy, named after a man that I admire so much. It feels extra special to win this award because it is voted for by my fellow managers.
“It’s an honour to be in the company of so many managers who have been named as LMA Manager of the Year before, including of course Liverpool managers like Bill Shankly, Bob Paisley, Joe Fagan, Sir Kenny Dalglish and, in recent years, Brendan Rodgers.
“Everything we have accomplished at Liverpool this year couldn’t have been done without the superb input of my coaching staff; they make us a really special bunch of football brains.
“I love to work with my coaches, my players and everyone at LFC and, of course, I am thankful for the support from all our wonderful Liverpool fans.”
Former Manchester United manager Sir Alex Ferguson heaped praise on the 53-year-old, saying he has stamped his personality on the Anfield side, having guided them to Champions League success last year before achieving further glory.
“Congratulations Jurgen! You have done an absolutely fantastic job. You thoroughly deserve to be named LMA Manager of the Year 2019/2020,” he said.
“Your personality runs right through the whole of your club and the performance level of you and your team has been outstanding.”
LMA chairman Howard Wilkinson added: “We are delighted to be recognising Jurgen’s achievements at the end of this extraordinary season.
“The trophy has been presented to a man with an excellent track record who quite rightfully takes his place amongst the iconic previous award winners.
“Jurgen has lived up to his reputation as an exceptional coach in the game and has created an outstanding team to secure Liverpool’s first top-flight triumph for 30 years.”
While Klopp won the Premier League award, Marcelo Bielsa was named the Championship manager of the year after guiding Leeds to first place and sealing their return to the top-flight.
After winning the division with Chelsea, Emma Hayes won the Women’s Super League award.