To claim the prize he saw off competition from his Manchester United team-mate Victor Lindelof as well as Tom Heaton, Joshua King, Alexandre Lacazette and James Ward-Prowse.
“Playing consistently gives you the opportunity to be up for these awards,” said Rashford.
“It’s the first time I’ve won the award and I think only the second time I’ve been up for it, so it’s a good one to win.”
Rashford has scored six goals in his eight PL appearances under caretaker manager Ole Gunnar Solskjaer, who found the net 91 times in the competition during his own playing career at Old Trafford, and is this month’s winner of the Barclays Manager of the Month award.
“It’s been a big help just having that type of person around us,” Rashford added.
“He’s experienced a lot of the things we’re going through. That always helps when we’re in good moments or bad moments.”