And Jim McGuinness won Personality of the Year and Patrick McBrearty Young Achiever of the Year to complete a great hat-trick for the county.
At a glittering ceremony in Bundoran, classy half-back Lacey was given a huge round of applause by locals and visitors alike as he picked up the main award.
The 26-year-old Four Masters player had a superb season, helping Donegal to league promotion, the Ulster title and an all-Ireland semi-final.
Unfortunately injury ruled him out of a Rules appearance Down Under.
“It is an unexpected bonus and it is very welcome,” said Lacey at the Great Northern Hotel in Bundoran.
“We had a very good year under manager Jim McGuinness and we would hope we can do more in 2012.
“There is already a lot of people looking forward to next year and seeing improvements.”
Jim McGuinness collected the Personality of the Year accolade while teenage sensation Patrick McBrearty took delivery of the Young Achiever of the Year award.