The Manchester City Women full-back saw off competition from team-mates Jane Ross and Jill Scott to claim the 2017 honour, which she first won in 2014.
Bronze collected the trophy at the Grosvenor House ceremony, also beating international colleagues Ellen White and Karen Carney, as well as Caroline Weir, to the top prize.
“Just to be nominated is a huge honour,” she told the PFA.
“It's the best award to be nominated for really - for the players that you play against week in week out to think of you as the best player of the season - so to be nominated and put in the team was unbelievable.
“It’s not really sunk in that I’ve won the award, but it’s a huge honour and I’m so grateful.”
The 25-year-old England international was the sole winner from the City nominees.
Leroy Sane was up for the Young Player of the Year award won by Dele Alli and a trio of Blues - Nikita Parris, Georgia Stanway and Keira Walsh – were nominated for the Women’s Young Player of the Year, which Birmingham City’s Jess Carter received.
The acknowledgement from her fellow professionals caps an outstanding 2016 campaign for Bronze, during which she proved to be a model of consistency as a standout performer in Nick Cushing’s double winning side.
Personally too, it proved to be successful, with the PFA gong joining the FA WSL Players’ Player of the Year, the Etihad Airways Player of the Year and the Official Supporters Club Player of the Year honours in Lucy’s personal trophy haul from the 2016 season.