The Wolves striker, who scored three times in five games for Wolves last month, beat off competition from Paul Henderson of Leicester, Carlos Edwards of Sunderland and Scott Sinclair of Plymouth to claim the award.
"I was pleased to be nominated and I'm delighted to hear I've won," he told the clubs official website.
"It was a fantastic month for me and the team. But I just want to keep my head down now and carry on working hard to help the club get where we want to be.
"Things are going right for us at the moment but we all know we have got to keep up the pressure on the teams around us if we are to keep hold of a top six place."