The annual honor is voted upon by members of LMA, a trade association representing managers across the top four tiers of English football and the national team.
"I’m absolutely delighted to be named the winner of the League Managers Association Manager of the Year Award for this wonderful Sir Alex Ferguson Trophy, named after a man that I admire so much," Klopp said. "It feels extra special to win this award because it is voted for by my fellow managers."
Klopp guided Liverpool to a historic campaign and the club's first top-flight title in 30 years. Liverpool registered 99 points this season, the second-highest haul in Premier League history, and secured the title with seven matches left to play, establishing a new record.
The amiable German becomes just the second Liverpool manager to win the award since its introduction in 1993. Current Leicester City coach Brendan Rodgers was recognized for his efforts at Anfield in 2014.
Sheffield United manager Chris Wilder received the 2019 award for his role in guiding the Blades to Premier League promotion.
The LMA also announced five other winners during Monday night's televised presentation program.
Leeds manager Marcelo Bielsa won the Championship Manager of the Year award for ending the storied club's 16-year hiatus from the Premier League, while Mark Robins (Coventry City) and David Artell (Crewe Alexandra) were honored for their seasons in the third and fourth flight, respectively.
Chelsea tactician Emma Hayes was named FA Women's Super League Manager of the Year, and Aston Villa's Gemma Davies was recognized as the FA Women's Championship Manager of the Year.