The 27-year old Senegalese striker was up against his Liverpool team-mate Mohamed Salah, the Egyptian who won the award the last two years, and Algerian Riyad Mahrez of Manchester City.
"I am really happy and at the same time I am really proud to win this award," said Mané at the ceremony organised by the Confederation of African Football in the Egyptian Red Sea city of Hurghada.
Mane became the second star from Senegal to be named African Player of the Year after El Hadji Diouf, who was the continent's best player in 2001 and 2002.
He scored 34 goals and produced 12 assists in 61 appearances in 2019, according to CAF statistics.