The 46-year-old Scotsman has worked wonders on a relatively limited budget to take Everton not only to the FA Cup final but also to fifth place in the Premier League and a place in the new Europa Cup next season.
"Since joining Everton, David has not only transformed the club's fortunes, he has also created a huge fan base, including many of his fellow managers," said LMA chairman Howard Wilkinson.
"With only modest financial backing he has shown what can be achieved through discipline, dedication and an innate ability to get the best out of every player."
Moyes, who made his name as a manager at Preston North End before leaving for Everton in 2002, won the award previously in 2003 and 2005.
Manchester United manager and fellow Scot Sir Alex Ferguson won the LMA Special Merit Award for his success this season which has seen him guide United to the Premier League title and the League Cup.
On Wednesday United could become the first team to successfully defend their Champions League title when they play Barcelona in Rome.
It was a good night for the Ferguson family as his son Darren picked up the League One award for taking Peterborough up to the Championship while former Republic of Ireland handler Mick McCarthy won the Championship award for his stewardship of Wolves, who have been promoted to the Premier League.
Brentford's Andy Scott was named as the League
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