Bale won the award for a record fifth time and also won the players' player and fans' player of the year awards.
The 26-year-old had a difficult second season in Spain as Real Madrid lost their Champions League crown this year.
But his six goals in Euro 2016 qualifying have put Wales on the brink of their first major finals since 1958.
Bale scored the only goal in Wales' 1-0 win over Belgium in Cardiff in June and scored another winner to secure a crucial 1-0 victory in Cyprus in September.
Cardiff City and Wales Under-21 midfielder Tommy O'Sullivan, 20, was named young player of the year with Wales manager Chris Coleman winning the media choice award.
Former Wales and Swansea City striker Alan Curtis, now part of the Swans' coaching team, was presented with the FAW's long service award.
Reading and Wales defender Kylie Davies, 28, was named the women's player of the year with international team-mate Helen Ward taking the players' player of the year award.
Manchester City's Natasha Harding was the fans' favourite of 2015 with fellow Wales international Charlie Estcourt named young player of the year.
Bangor City midfielder Sion Edwards, who has made more than 200 appearances in 10 seasons with the Citizens, was named the Welsh Premier League's clubman of the year.
Men's Awards
Player of the Year: Gareth Bale
Players' Player of the Year: Gareth Bale
Fans' Player of the Year : Gareth Bale
Young Player of the Year: Tommy O'Sullivan
Media Choice Award: Chris Coleman
FAW Long Service Award: Alan Curtis
Welsh Premier League Clubman of the Year: Sion Edwards (Bangor City FC)
Women's Awards
Player of the Year: Kylie Davies
Players' Player of the Year: Helen Ward
Fans' Favourite of 2015: Natasha Harding
Young Player of the Year: Charlie Estcourt
Real Madrid forward Gareth Bale has been named Welsh player of the year at the Football Association of Wales (FAW) awards.