The Liverpool forward, 25, beat Kevin de Bruyne, Harry Kane, Leroy Sane, David Silva and David de Gea in the vote by his fellow players.
Manchester City’s Sane won the young player prize, while Chelsea’s Fran Kirby won the Women’s Player of the Year award.
Bristol City’s Lauren Hemp was named Women’s Young Player of the Year.
“It’s an honour and especially as it’s voted by the players. I am happy and proud,” Egypt international Salah said.
“I didn’t have my chance at Chelsea. It was clear I would return and show everyone my football. I think I left and came back a different person, man and player.”
Liverpool boss Jurgen Klopp said he was “happy to have the opportunity” of being Salah’s manager and added it was an “unbelievable honour” to win the award.
“It’s been a fantastic ride but we still have games to go,” Klopp said. “But please grab the trophy and come home. We play on Tuesday!
Former West Brom and England forward Cyrille Regis, who died in January at the age of 59, was honoured with the PFA’s merit award during the ceremony at the Grosvenor House Hotel in London.
Former England captain Casey Stoney, who retired from football this year, picked up the PFA Special Achievement award.