Antonio scored eight times in the month of July to help the Hammers pull clear of the relegation zone in the final weeks of the season.
The 30-year-old’s goal tally in the final month of the season included an impressive four-goal haul against Norwich City, becoming the first West Ham player to score four in an away Premier League game.
Antonio topped a seven-man shortlist which included Chelsea pair Olivier Giroud and Christian Pulisic, Antony Martial, Burnley goalkeeper Nick Pope, Harry Kane and Raheem Sterling, to win the award for the first time.
"I'm buzzing," Antonio told West Ham's website. "Obviously as a professional footballer you go out there and try your hardest and your best, so to get some recognition for it is amazing.
"Since I started my professional career this is definitely the best I've played and hopefully I can carry it on to next season."
Elsewhere, Hasenhuttl made history by becoming the first Austrian to win the manager of the month award after leading Southampton to an unbeaten month.
The Saints picked up three wins and three draws in the final month to finish 11th on the table.
Hasenhuttl saw off challenges of fellow nominees Pep Guardiola, Ole Gunnar Solskjaer, Jose Mourinho and David Moyes to claim the prize.