Klopp oversaw a stunning campaign for the Reds, guiding them to a club-record total of 99 points to claim their first top-flight title in 30 years.
They lost just three Premier League games all season and finished a whopping 18 points clear of second-placed Manchester City.
After being presented with the Sir Alex Ferguson Trophy, named after the iconic ex-Manchester United manager, Klopp said: "I'm absolutely delighted to be named the winner of this wonderful Sir Alex Ferguson Trophy, named after a man that I admire so much.
"It feels extra special to win this award because it is voted for by my fellow managers.
"It's an honour to be in the company of so many managers who have been named as LMA Manager of the Year before, including Liverpool managers like Bill Shankly, Bob Paisley, Joe Fagan, Kenny Dalglish and, in recent years, Brendan Rodgers.
"Everything we have accomplished at Liverpool this year couldn't have been done without the superb input of my coaching staff; they make us a really special bunch of football brains.
"I love to work with my coaches, my players and everyone at Liverpool and, of course, I am thankful for the support from all our wonderful Liverpool fans."