The goalkeeper admits he is honoured to have been recognised, but insisted he is focused on getting the club "back where we belong".
Elliott has been one of the shining lights of the Magpies season since taking over as the club's number one following the long-term injury to Tim Krul in October.
The goalkeeper kept four clean sheets in 22 appearances but was an impressive last line of defence for the struggling club, frequently wowing with strings of fine saves and thriving on the responsibility of his first stint as first choice between the posts.
His season was ended prematurely by an injury at the end of March, which saw him sidelined as the Magpies ultimately succumbed to relegation and will also rule him out of the Republic of Ireland's Euro 2016 campaign.
However, he had already impressed enough to be voted the club's player of the season, and he admitted he was honoured to have been selected before vowing to help the club get back into the big time when he returns next season.
It's an honour to win player of the season for #NUFC can't wait to get back and help get us back where we belong!thanks for all the support— Robert Elliot (@the_dilsh) May 15, 2016
Elliot tweeted: "It's an honour to win player of the season for NUFC, can't wait to get back and help get us back where we belong! Thanks for all the support."
Elliot's individual displays - and those of his replacement Karl Darlow in the final weeks of the season - have been a rare bright spot for the Magpies in an otherwise dismal campaign.
However, the season finished on a high note as Rafael Benitez's side, relegated in midweek as Sunderland beat Everton, thrashed high-flying Tottenham Hotspur 5-1 in their final match.