The Argentine took over at Elland Road over the summer and has had an instant impact, with Leeds going into the international break top of the table after four wins and two draws in their opening six games.
George Burley, chair of the judging panel for the award, said: "Marcelo arrived in England this summer with a tremendous reputation, which is clearly warranted based on how Leeds have performed in the opening six games.
"Entertaining but organised, the team has taken to his methods quickly and their early form suggests they will be strong contenders for promotion come May."
Fellow judge Don Goodman added: "What an impact Bielsa has made at Leeds United. After last year's great start under Garry Monk, the fans won't yet be getting carried away, but there is the sense that this team is different.
"The style of play which Bielsa was known for in Spain and led him being touted to some of the biggest clubs in Europe is already in evidence at Elland Road and the players are responding to his methods."