The 22-year-old - who succeeds Ivorian Gervinho for his performances when Lille won the title last season - has been outstanding this season for Montpellier, who are on the verge of landing their first ever title.
Belhanda edged out Marseille's Cameroon defender Nicolas Nkoulou and Gabonese striker Pierre-Emerick Aubameyang, who plays for St-Etienne and was the joint top scorer at the Africa Cup of Nations.
The award is known as the Marc-Vivien Foe prize in memory of the Cameroon international who died during a Confederations Cup match in Lyon in June 2003.
1. Younes Belhanda (Montpellier/MAR)
2. Nicolas Nkoulou (Marseille/CMR)
3. Pierre-Emerick Aubameyang (St-Etienne/GAB)
4. Henri Bedimo (Montpellier/CMR)
5. Aymen Abdennour (Toulouse/TUN)
(For more sports news and updates, follow Ahram Online Sports on Twitter: @AO Sports)