Ronaldo led the Turin giants to their eighth straight Scudetto with his 21 goals in the league leading the team.
The timing of the award is unusual as Serie A individual awards have always been given out all at the same time, after the conclusion of the season, but Ronaldo will be recognised before their game against Atalanta on Sunday.
The other award-winners include Inter’s Samir Handanovic, who wins Goalkeeper of the Year.
Kalidou Koulibaly scoops the Defender of the Year gong, and the Napoli man is joined by Lazio’s Sergej Milinkovic-Savic, Fabio Quagliarella of Sampdoria and Nicolo Zaniola, who plays for Roma.
The final three players are awarded midfielder, striker and young talent of the year respectively.
Ronaldo has now won domestic player of the year in England, Spain and Italy, an unprecedented feat, to go alongside the league championships in each country, also an achievement unique to the Portugal international.
Ronaldo has also been awarded five Ballons d’Or, which sees him tied with Lionel Messi for the most in history.
The 34-year-old joined the Bianconeri in the summer of 2018 in a deal reported to be worth €100m (£88m/$112m) from Real Madrid.
He left the Santiago Bernebeu as the club’s all-time top goalscorer, and after having won three consecutive Champions League titles.
He also won Europe’s premier club competition as a member of Manchester United in 2008.