Scheffler won the Jack Nicklaus Award with 89 percent of votes from PGA Tour members.
He became the first player to win the Korn Ferry Tour Player, PGA Tour Rookie, and PGA Tour Player awards.
The 26-year old enjoyed four wins in six starts, which was a remarkable start of the year.
He won the PGA Tour title at WM Phoenix Open and continued his success at Arnold Palmer Invitational.
Scheffler maintained his top spot in the world rankings with four more runner-up finishes.
The American only missed out on FedExCup win when McIlroy overturned an eight-stroke deficit to defeat.
Smith spoke to the media during Players Championship and stated that he lives just 10 minutes from Sawgrass.
Smith said that he played the course three to four times per week, despite it being slower and softer.
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