The newly elected Philippines congressman was the overwhelming winner of the annual award after a year in which he sealed a record seventh weight division world title.

"I overflow with joy and gratitude," said Pacquiao in his acceptance speech in New York on Friday. "I am thankful that like Muhammad Ali and Joe Frazier and others I got into boxing.

"I confronted poverty by trusting God and dreaming big. I was convinced I could succeed in boxing. The boxing ring could be the breeding ground for my dreams."

Pacquiao produced a devastating second-round knockout of Briton Ricky Hatton in May last year to win a light welterweight belt and stopped Miguel Cotto in November to win become world welterweight champion.