Pearce will collect his award, as voted by readers of the club's official magazine, on the pitch before Saturday's home Premiership match against Leeds United - just three days before his 39th birthday.
The former England international full-back achieved a landslide victory, polling an incredible 59% of the readers' votes.
He was the clear winner from five players nominated by the magazine, which also included last season's winner Paolo Di Canio (placed second), young England midfielders Joe Cole and Michael Carrick and French striker Frederic Kanouté.
Pearce said: "From my point of view, I'm delighted to win this award. After last season's disappointment when I broke my leg twice, to come back this year and make the number of appearances that I have is fantastic for me. You can't fool the supporters, which makes it an honour to win something like this.''
Hammers News Magazine editor Tony McDonald added: "Stuart Pearce has given everything for the team in a disappointing season for the club and, at 39, you have to admire and respect his fitness and attitude to the game. He has clearly impressed the fans with his committed approach to every game and it will now be interesting to see if winning this award has any bearing on his imminent decision to either play on next season or hang up his boots.''
His acceptance of the award will be Pearce's only appearance on the pitch on Saturday, as he serves the final part of his three-match suspension.
How the Hammers News Magazine readers voted:
Stuart Pearce 59.2%
Paolo Di Canio 19.4%
Joe Cole 7.8%
Michael Carrick 6.8%
Frederic Kanouté 6.8%