The in-form left winger or full-back has been rewarded for his outstanding form throughout 2010.
The 21-year-old, who has won 25 Wales caps, only established himself in the Spurs first team in the second half of last season but is now regarded as one of Europe's hottest properties.
His performances last term helped propel Harry Redknapp's side towards the Champions League and he has carried that form into the current campaign.
He was recently linked with Real Madrid but Redknapp - who added as an Englishman that he was disappointed Bale was Welsh - insisted the youngster would not be leaving White Hart Lane.
On the international front, Bale was the standout performer in a friendly loss to Sweden in March and was also prominent in last month's Euro 2012 qualifying defeat in Montenegro.
Former Southampton prodigy Bale made his Wales debut against Trinidad and Tobago four years ago.
Bale was presented with the Brains Wales Footballer of the Year award at a ceremony at the Cardiff City Stadium.
Arsenal midfielder Aaron Ramsey, 19, who has been sidelined since February with a broken leg, retained the Young Player of the Year prize.
Swansea defender Ashley Williams was named as the Club Player of the Year.