The Danish goalkeeper opted to hang up his gloves at the end of the campaign and bring down the curtain on a glittering career.
Schmeichel's experience between the posts last season was a vital cog in the machinery of City preserving their Premiership status following their return to the top flight.
The veteran shot-stopper shone at Maine Road and accrued 33 percent of the 9,265 votes in the poll.
French striker Nicolas Anelka was a constant thorn in the side of opposing defences in his first season with City and he finished second with 25 percent of the votes.
It was a close call for third place with Marc Vivien Foe's imposing presence edging out cult hero Shaun Goater by two percent.
The minor places were filled by promising youngster Shaun Wright-Phillips and Gallic defender Sylvain Distin.
1. Peter Schmeichel 33%
2. Nicolas Anelka 25%
3. Marc Vivien Foe 17%
4. Shaun Goater 15%
5. Shaun Wright-Phillips 6%
6. Sylvain Distin 4%
The final list of 20 star men now comprises over half of the field with Thierry Henry, Gareth Barry, Christophe Dugarry, Brad Friedel, Jay-Jay Okocha, Scott Parker, Gianfranco Zola, Steed Malbranque, Harry Kewell, Danny Murphy and now Schmeichel all through to the final poll.
