The event was held on Monday night in Marrakech, Morocco.
Lookman, who clinched the prestigious individual awards, defeated South African goalkeeper, Ronwem Williams; Cord’Ivoirere winger, Simon Adingra; Egypt legend, Mohamed Salah and Morocco defender, Achraf Hakimi.
The announcement was made by FIFA President Gianni Infantino and was supported by the CAF president, Patrice Motsepe.
Lookman had an outstanding season with Atalanta, helping the team win the UEFA Europa League with a sensational heroic hat-trick.
He also performed well for the Super Eagles at the 2024 African Cup of Nations, AFCON.