Morton, 18, is the youngest of three brothers currently playing for AFL clubs, with Mitch running out for Richmond and Jarryd – who earned his own nomination in round 13 – for Hawthorn.
After the Demons' win over West Coast on Saturday, Melbourne coach Dean Bailey said Morton had been unlucky to slip through until the late stages of the season to be nominated for the prize.
"Cale's been very good for the whole year," he said. "He's a class act and a great kid and we're lucky he's in a Melbourne jumper.
"We've managed him particularly well and our medical staff and fitness staff have been very good in ensuring that he plays enough game-time.
"He's going to be a 10-year player and he's been very, very good for us."
Morton said it was pleasing to be acknowledged for a year of hard work, and said it was nice to join his brother in the running for the young gun award.
"It is pretty exciting. It's a real credit to Jarryd for getting his nomination in his second year at Hawthorn, and as for me, I've just been chipping away all year and I've got it now," he told afl.com.au.
"I'm really happy and proud to have won it this week.
"It's a shame Mitch is too old and is a bit past it – to have been nominated too, it would have been a good story!"
Morton said he was happy with his 30-disposal, one-goal game, and was even more pleased to be able to sing the club's song after the match for just the second time.
"It was fantastic to just have the win, and to have contributed to the win was a great feeling," he said.
"All the guys were really happy after the game and it was just our third win for the season but it was still a great feeling and I was really happy with the way we played.
"I missed the win against Brisbane, so I've only played in two wins, and it's always a great feeling to be able to sing the song, especially when you've tried your guts out all day. It makes it even better."
Morton was drafted by the Demons with selection No.4 overall in the 2007 NAB AFL Draft after winning the Larke medal as the best player in the NAB AFL Under 18 Championships last year.
He made his debut with the club in round one this year and has played 17 games, averaging more than 18 possessions a match as well as kicking 12 goals for the year.
He was rested in round 10, and then spent rounds 13 and 14 playing in the VFL, which he believes was a more than worthwhile experience.
"I actually feel like I was better for the drop down to Sandringham," he said.
"I've started to place an emphasis on what I'm doing when I don't have the ball in my hands. We have a bit of a saying about footy karma; what you do for your teammates sometimes reciprocates and you get a bit of luck yourself.
"I've been finding a bit more of the ball in the past month or so, and I think it's because I've been trying to work a lot harder to get my teammates on and get them into space."
Morton joins his brother Jarryd (Hawthorn), Bachar Houli (Essendon), Josh Hill (Western Bulldogs), Rhys Palmer (Fremantle), Kieren Jack (Sydney), Ben McKinley (West Coast), Cyril Rioli (Hawthorn), Austin Wonaeamirri (Melbourne), Kurt Tippett (Adelaide), Garrick Ibbotson (Fremantle), Nathan Brown (Collingwood), Matthew Kreuzer (Carlton), Trent Cotchin (Richmond), Colin Garland (Melbourne), Jack Riewoldt (Richmond), Kyle Reimers (Essendon), Brett Ebert (West Coast), Gavin Urquhart (North Melbourne) and Shaun Grigg (Carlton) as contenders for this year's prize.
