Kelly joins an illustrious list which includes the likes of Naseem Hamed, Ricky Hatton and Joe Calzaghe as recipients of the prestigious award.
The 24-year-old has enjoyed a superb 2018, winning the vacant WBA International welterweight title by outpointing Carlos Molina, before beating Kris George to add the Commonwealth welterweight title to his burgeoning collection.
Kelly is now angling for a welterweight showdown with former world champion Brandon Rios in just his eighth professional fight.
Super heavyweight Frazer Clarke was meanwhile honoured with the Amateur Boxer of the Year award.
Clarke – who trains with world heavyweight champion Anthony Joshua – won Commonwealth Gold in Australia in April, securing a unanimous points victory over Satish Kumar of India.
There were plenty of big names in attendance at the event at The Savoy Hotel, with boxing heroes past and present turning out in force for the sixty-seventh annual dinner.
And the crowd were treated to an inspiring speech from Dr Johnson Gideon Beharry VC, who carried out two separate acts of great courage while serving in Iraq with the 1st Battalion Princess of Wales’s Royal Regiment.
Beharry was awarded with the Victoria Cross and gave a speech comparing life in the armed forces with sport of boxing.