The pair were the only realistic contenders for the accolade but it it Salah who has been rewarded for a stellar first campaign at Anfield, with 31 goals and nine assists coming from his 33 outings in the Premier League.
After the announcement, Salah said: "It's an honour and especially as it's voted by the players. I am happy and proud. I didn't have my chance at Chelsea. It was clear I would return and show everyone my football. I think I left and came back a different person, man and player."
Tottenham Hotspur forward Harry Kane was named in third position and the England international also missed out in the race for the PFA Young Player of the Year award, which went to Man City's Leroy Sane.
The 22-year-old has contributed nine goals and 12 assists from his 28 league outings for City during the current campaign.