Franklin won the Peter Crimmins Medal with 216 votes, beating captain Sam Mitchell (177) into second place, with vice-captain Luke Hodge (175) in third spot.
“I just love getting out there on the big stage and having all the support,” Franklin said.
“You (Hawks) supporters are the best.”
The 21-year-old’s best and fairest victory caps a season which also includes All-Australian honours, a Coleman medal and a premiership medal.
Franklin, who polled in 24 out of his 25 games, also paid tribute to his team mates.
“It’s unbelievable and a privilege to win this. Thanks to the boys, I couldn’t have won it without them,” he said.
Franklin will have shoulder surgery next week before going overseas for a break. Before leaving the stage he also took the time to thank his parents who relocated from Perth to Melbourne when he joined the Hawks.
“I want to thank my family who moved over here with me. Thanks to mum and dad, I love you heaps.”