The Velo d'Or award is decided by a panel of cycling journalists, with the Spaniard also winning the award in 2007, 2008 and 2009.
The 31-year-old Tinkoff-Saxo rider made an early exit from the Tour de France in July with a leg fracture before making a spectacular recovery to win the Vuelta in September.
In addition to this Contador won Tirreno-Adriatico and Tour of the Basque Country, and finished second overall in the UCI WorldTour rankings.
Tour de France champion Chris Froome won the award in 2013.
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