The 23-year-old striker was handed the gong at the Football League Awards in London on Sunday after a season that has so far yielded 28 goals and sees the Foxes on the brink of promotion back to the Championship.
The former Walsall man told Leicester's official website: "I am obviously delighted to receive the award. It has been a great season for me, but it won't mean anything unless we achieve our goal of promotion.
"However, I don't see this as an individual award. It reflects on the club as a whole and I was just simply there to pick it up on everyone's behalf - and that goes for the fans, players and staff."