The Palace winger saw off competition from Tottenham's Pedro Porro, Brentford's Bryan Mbeumo, West Ham's Mohammed Kudus and Watford's Wesley Hoedt to claim the prize.
Olise’s goal – which was Palace’s landmark 600th goal in the Premier League – showed the No. 7 at his majestic best, as he picked up the ball on the halfway line, beat his man twice and curled a fine effort into the far top corner.
Olise collected up his award at the Roundhouse in Camden on Thursday evening.
Independently judged by leaders from football administration and the football media, the London Football Awards celebrate the very best of London football.
All income raised from the London Football Awards on the night goes to Willow, the only national charity that helps provide Special Days for seriously ill young adults aged 16 to 40 years old when they are needed most.
Sam Johnstone was also nominated for Goalkeeper of the Year at Thursday night’s ceremony, but lost out to Tottenham’s Guglielmo Vicario.
You can rewatch Olise’s remarkable goal from every angle below.