The 22-year-old has been the leading light in the division, having already plundered 33 goals this term, and has fired Huddersfield into an automatic promotion race.
Rhodes, who saw off Sheffield United's Ched Evans and Charlton's Johnnie Jackson to win the gong, said: "There were so many great candidates out there and probably more deserving of the award than me.
"I am very lucky and very honoured to be named League One's player of the year.
"Huddersfield is a great club full of really nice players, both on and off the field. They are a really great bunch and I am picking up this award on behalf of them. It is a fantastic team effort."
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