The Liverpool midfielder received the award from Sir Bobby Charlton at the FA England awards ceremony at St George's Park.Gerrard, who had previously lifted the award in 2007, finished ahead of Manchester United striker Danny Welbeck, with Chelsea defender Ashley Cole third.
Gerrard joins Chelsea midfielder Frank Lampard and Manchester United striker Wayne Rooney in lifting the award twice. The 32-year-old was one of England's best performers at Euro 2012 when he set up a series of goals with his deadly delivery from set pieces.
The award completes a memorable period for Gerrard, who was handed the England captaincy by manager Roy Hodgson ahead of the finals in Ukraine and Poland. More than 180,000 votes were cast by supporters on TheFA.com website, a record for the player poll since David Beckham was crowned in 2003.
Left-back Stephanie Houghton was voted England women player of the year. Houghton was a star performer for Team GB during the Olympic Games and scored the winner against Brazil.
Other notable award winners included the women's senior team, who were voted Club England team of the year. The men's under-21 and women's under-23 players of the year awards went to Liverpool midfielder Jordan Henderson and Toni Duggan respectively.
The evening was part of The FA's 150th anniversary programme and celebrated the work of the Bobby Moore Fund for Cancer Research UK.
FA chairman David Bernstein said: "Clearly The FA England Awards is about much more than prize-giving and honouring those who have achieved. The elite level is the pinnacle of a pyramid that makes English football so special.
"They are the inspiration to over two million people regularly playing football in this country. All involved at every level deserve our recognition and respect."
The full list of award winners:
Men's youth player of the year - Nathaniel Chalobah
Women's youth player of the year - Alex Greenwood
Women's Under-23 player of the year - Toni Duggan
Disability player of the year - Imbrahima Diallo
England 'C' player of the year - Jamie Turley
Club England team of the year - England Women's Team
Men's Under-21 player of the year - Jordan Henderson
Lifetime achievement award - David Clarke, England and Team GB Blind Tea
Senior women's player of the year - Stephanie Houghton
Senior men's player of the year - Steven Gerrard