The Portuguese preceded Chelsea's Ivorian hit man Didier Drogba for the player of the year as both men dominate the scoring charts in the English Premiership so far.
Despite Drogba's supremacy with two goals more than Ronaldo, it was expected that the latter would grab the prize following his dazzling form with United this season which saw him contribute a host of assists as well as goals.
The 22-year-old also outran Arsenal midfield maestro Cesc Fabregas for the Young Player of the Year award, while Tottenham winger Aaron Lennon came third.
Ronaldo's double achievement is only the second in the history of the players' awards after former Aston Villa striker Andy Gray's exploit in 1977.
Ronaldo scored 16 Premiership goals for United this season and a total of 21 in all competitions, as his form for the rest of the season will be crucial to United's treble ambitions.
PFA Premier League Team of the Year:
Edwin van der Sar, Gary Neville, Nemanja Vidic, Rio Ferdinand, Patrice Evra (all Manchester United); Ryan Giggs, Paul Scholes, Cristiano Ronaldo (all Manchester Unted) and Steven Gerrard (Liverpool); Didier Drogba (Chelsea) and Dimitar Berbatov (Tottenham)