He was chosen by a panel of former players and representatives of London’s 15 professional clubs plus journalists, at a gala ceremony in Battersea.
Payet pipped Tottenham striker Harry Kane, Chelsea’s stand-out player of the season Willian, Watford forward Odion Ighalo and Arsenal playmaker Mesut Ozil to the award.
Meanwhile, the Hammers were also recognised for their work in the community after winning the London Community Project of the Year award for their Moore Family Foundation Project.