The 23-year-old Portugal international - who last week was named the Professional Footballers' Association Player of the Year - topped the poll of journalists ahead of Liverpool striker Fernando Torres and Portsmouth goalkeeper David James.
It is the second season in succession Ronaldo has received the accolade, now in its 61st year. Former Arsenal striker Thierry Henry was the last man to collect the FWA award twice in a row, from 2003 and 2004.
Chairman of the FWA, Paul Hetherington, said: "Ronaldo's award is no surprise after his brilliant form this season and incredible goal-scoring record - 38 at the moment - and he is, of course, essentially a winger.
"Cristiano was an overwhelming winner and, given his age, he has the potential and ability to dominate this award for years in an unprecedented way."