The prolific midfielder (71 votes) pipped last year's winner Josh Dunkley (69) for the Merrett-Murray Medal at Thursday night's club champion dinner.
Lachie Neale was third on 65 votes while recruit Sam Draper (57) finished ninth in his first season at the club.
It came after coaches voted Ashcroft best-on-ground in Saturday's incredible grand final defeat of Fremantle, ensuring he finished well clear in voting for the Gary Ayres Award for player of the finals.
Ashcroft had six disposals, four clearances and two score assists in the final four minutes as the Lions came from the clouds to secure a three-peat.
But his game-high 31 disposals and 13 clearances weren't enough to secure what would have been a historic third-straight Norm Smith Medal, as that award went to the Dockers' Shai Bolton.
"He was extraordinary in the grand final. The way he handled those last five minutes was beyond his experience," coach Chris Fagan said.
"He put the team on his shoulders and helped us get across the line with his clearance work."
Ashcroft caused a stir with his response on social media to his All-Australian snubbing, adamant he deserved a blazer.
But it only served as an extra source of motivation entering the finals.
"He had a wonderful year, particularly through the second half of the season and has established himself as one of the best players in the competition," Fagan said.
"He's a great player and when you look at what he produces in the big games and on the big stage, he consistently delivers."
MERRETT-MURRAY MEDAL VOTINGÂ
Will Ashcroft (71), Josh Dunkley (69), Lachie Neale (65), Charlie Cameron (63), Darcy Wilmot (63), Logan Morris (61), Harris Andrews (61), Zac Bailey (60), Sam Draper (57), Levi Ashcroft (57)
