Guardiola guided Man City to the Premier League title, finishing 12 points ahead of nearest challengers Manchester United.
The former Barcelona and Bayern Munich manager also won the Carabao Cup and will contest the Champions League final against Chelsea in Portugal this weekend.
This is the second time Guardiola has won the LMA award, having done so for the first time in the 2017/2018 season.
“I am delighted to win the LMA Manager of the Year award for the second time,” Guardiola said after picking up the award.
“It is, for me, such a special trophy to win because it is voted for by my fellow managers. An award like this is only possible though if a manager is surrounded by top professionals.
“My players have been fantastic – their dedication and professionalism never wavered, even in a season that has been the most challenging we have ever faced.
“And my staff are also deserving of the highest praise. I am so lucky to have a team of people who give everything they have every single day to make sure Manchester City are the best we can be.
“This award is dedicated to and shared with them.”
