Hazard finished atop the six-man shortlist, which is chosen by players in the Premier League, since he scored 13 goals and had eight assists this season.
The 24-year-old has become a vital part of Chelsea's line-up ever since the Blues forked out 32 million pounds for him in 2012.
Tottenham Hotspur striker Harry Kane, who has scored 20 goals in the ongoing Premier League season and 30 goals in all competitions, came second.
However, Kane did win the Young Player of the Year award, which is given to players under the age of 23.
The other players that made up the six-man shortlist for the Player of the Year award were Manchester United goalkeeper David De Gea, who finished third, Liverpool's Philippe Coutinho, Arsenal midfielder Alexis Sanchez and Chelsea striker Diego Costa.