It’s been an eventful month for the 18-year-old, who played in all five games for Karl Robinson’s team during January and scored two goals in the process, including a valuable late equaliser in a 2-2 draw with Crawley Town.
Watch Alli in action against Italy at Rotherham last November
And he also hit the headlines earlier this week when he secured a transfer deadline day switch to Tottenham Hotspur, before being loaned back to stadiummk.
"It's nice to be recognised, but it's not just me, the whole team has been performing really well," said Alli.
"We've been working really hard on and off the pitch and getting better each week in training so it's nice to have an award for it."
Dons boss Robinson was also named as January’s Manager of the Month, following their unbeaten run which also saw them bag 11 goals.
And he was happy to see Alli receive the award too, having overseen the player’s development from the academy to the first team in the course of the last two seasons.
"It’s been quite a month for Dele and I'm extremely impressed with the way he is handling it all," said Robinson.
"He is mature beyond his years and that is translating onto the football field with some terrific performances.
"We’re all immensely proud of Dele for his achievements but I know he’s fully focused on maintaining his excellent form for the remainder of the season."
Milton Keynes-born Alli has already scored 12 goals for the Dons in League One this season and was previously named as the Football League’s Young Player of the Year last August.
He has also been capped by England at U17, U18 and U19 level over the last three years.
