He was also runner-up in 2002.
Bell said he hadn't expected to win when he arrived for the function at the Burswood Ballroom.
"I'm really rapt to have won tonight, it's a big surprise," he said. "In a way, that makes it as bit nicer too."
Since returning to the club from the Kangaroos four years ago, Bell has also become the club’s longest serving captain. He has also amassed 54 Brownlow Medal votes to be the highest vote winner in the club’s history.
His outstanding performance and leadership in 2004 was further recognised with his selection in the WA State of Origin Side as captain for the second consecutive year.
Even after missing one game this season, he averaged more than 23 possessions per game and finished in the club’s top five for goals, kicks, disposals, handballs and frees for.
Bell was the first player signed by Fremantle in 1995 and took the field in the club’s debut match against Richmond.
His achievement in 2004 was significant considering he played for the majority of the season under the duress of an ongoing injury that finally took its toll when Bell was forced out of the final game of the home and away season - the first game he has missed in three seasons.
Bell played his 200th AFL game in round 11 this year and has played a total of 87 games for Fremantle.
2004 DOIG MEDAL - TOP 10 VOTES
Peter Bell 36
Paul Hasleby 34
Matthew Pavlich 33
Justin Longmuir 28
Luke McPharlin 27
Shane Parker 27
Robert Haddrill 26
Jeff Farmer 23
Paul Medhurst 22
Troy Simmonds 21
Voting System
Votes are awarded by the Match Committee at the conclusion of each game based on the following voting scale:
4 Votes - Outstanding
3 Votes - Excellent
2 Votes – Very Good
1 Vote - Good