The double award is made even more amazing because just last season the Villa faithful were questioning his place in the first team.
But, to his immense credit, Petrov has come back fighting and he is now simply immovable in the centre of the Claret and Blue midfield.
Eyebrows were raised when Martin O'Neill paid £6.5m to Celtic for the box to box midfielder and the decision initially looked a bad one.
Despite a sensational performance on his Villa debut against West Ham at Upton Park, Petrov failed to cement his place in the team with a lack of confidence cited for his poor form.
The Villa Park faithful originally gave him time to settle in but as the poor performances began to stack up their frustration grew.
Eventually, O'Neill was forced to drop his favourite footballing son and seemed to be ready to admit defeat.
Cool
But Petrov finally began to adjust to the pace of the Premier League and a fine goal against Derby County in April, which was eventually voted Villa's goal of the season, rounded off a string of fine performances.
Petrov was ready and raring to go for this campaign and he has not disappointed. The neat and tidy midfielder has provided the perfect foil for Gareth Barry with his cool attitude and ability to pick the ball up from the edge of his own area.
Consequently it is no surprise that he has been recognised not only by the fans but by his own teammates.
Another man to receive two awards at Villa's Annual Dinner was Nathan Delfouneso. The promising striker claimed the Players Young Player of the Year and the Supporters Young Player of the Year prizes.
Delfouneso has shown some great potential this season, managing to grab a goal on his full debut against MSK Zilina and helping Villa's reserve side to win the F.A. Premier Reserve League South crown.
Other awards on the night went to John Carew, who saw his brilliant strike against Stoke at Villa Park recognised as the goal of the season, and Mark Kinsella who was the Former Players Player of the Year.