The Swansea boss wins the award following his side's performances in his first month in charge.
Since taking over on January 3, the Swans won three league games to pull themselves out of the relegation zone.
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Clement's award completes a double for Swansea after striker Oliver McBurnie was named the Premier League 2 Player of the Month.
"It was a nice surprise," he said.
Swansea boss Paul Clement
"Also because of the other managers who had very good results and teams this month.
"I was absolutely confident in my ability to do this job, and I haven’t done the job. There’s a long way to go."
Everton’s Ronald Koeman, Stoke City’s Mark Hughes and Mauricio Pochettino, of Tottenham Hotspur were also on the shortlist.