The 18-year-old playmaker helped lead South Korea to the runner-up finish, the country's best showing ever at the biennial tournament. Lee scored South Korea's lone goal in their 3-1 loss to Ukraine in the final at Lodz Stadium in Lodz earlier in the day.
Lee, who plies his trade with Valencia CF in Spain, had two goals and four assists in seven matches during the country's unexpected championship run.
Lee becomes the first South Korean man to win the top individual award at a FIFA international tournament.
At the 2010 U-17 Women's World Cup, Yeo Min-ji won both the Golden Ball as the top player and the Golden Shoe as the scoring champion.
Despite being the team's youngest member, Lee played with poise and savvy in the attacking zone, not to mention his considerable skill and vision.
He often undressed multiple defenders with his dazzling dribbling and 360-degree Marseille turns, and set up scoring chances with gorgeous passes that wowed the crowd and struck fear into opponents. As the team's designated spot kicker, Lee set up a couple of goals on free kick and corner kick situations, and scored both of his goals on penalties.