The Portuguese was recognised by his peers for his sensational first season in English football, which saw him guide Wolves to promotion to the Premier League with four games to spare.
The manager was present to collect his award at a glittering ceremony at the Grosvenor Park Lane Hotel in Mayfair on Tuesday evening.
The award is voted for by all other managers in the Sky Bet Championship, and as a result is one of the most coveted for any manager in the English game.
Alongside Jurgen Klopp, Neil Warnock and John Coleman, Nuno was also nominated for the overall LMA Manager of the Year 2017/18, but the headline award was handed to Manchester City manager Pep Guardiola.