The Senegal forward scored three times in four appearances, striking twice in the 4-2 win over Burnley as well as opening the scoring in a 2-1 success at Fulham to help Liverpool maintain their push for the league title.
Mane pipped teammate Andy Robertson, as well as Seamus Coleman, Bernardo Silva, Jamie Vardy and James Ward-Prowse, to win the prize.
It’s the second time the 27-year-old has been awarded the trophy, having previously won it in August 2017.
He is the second Reds player to collect the accolade after Virgil van Dijk was named as December’s Player of the Month.
Earlier today, Jürgen Klopp was announced as the Premier League Manager of the Month for March.