Oklahoma City Thunder centre Chet Holmgren came second with Brandon Miller of the Charlotte Hornets third.
Wembanyama took the award despite the Spurs finishing with the second worst record in the Western Conference as he broke a number of records and lived up to expectations as a generational talent.
He became the youngest player to record a ‘five-by-five’ with 27 points, 10 rebounds, eight assists, five steals and five blocked shots in a defeat by the Los Angeles Lakers – and he did so in 30 minutes, making it the fastest ever.
Wembanyama is also one of only three NBA players – alongside former Spurs big men Tim Duncan and David Robinson – to register 30 points, 10 rebounds, five assists and five blocks in a game.
He posted 31 points, 12 rebounds, six assists, six blocks and a steal in a March win over Indiana.
The 7ft 4in power forward is also a candidate for the Defensive Player of the Year award and is set to be selected by France for this summer’s Olympics in Paris.