In what was a predictable result, the Bulldogs captain claimed the Charles Sutton Medal with 168 votes to hold off a challenge from fellow midfield star Ryan Griffen (150).
Tough tagger Liam Picken (110) finished a career-best third, and also received the Brad Johnson Best Team Player Award.
Boyd, 30, led the AFL in disposals for the second year running, amassing 721 touches at a career-best average of 32.8 a game.
He won his first club award in 2009, when the Bulldogs were preliminary finalists, and has now gone back-to-back in his first two seasons as skipper.
Boyd and Picken were the only Dogs to play all 22 games. Griffen missed two.
The evolution of Griffen's game has pleased many at Whitten Oval. Coach Brendan McCartney asked the 26-year-old to play more of an inside role and, despite being tagged most weeks, the 2010 winner managed to elevate his status.
It was the first medal count since the June death of 88-year-old Sutton, who led the Bulldogs to their only premiership back in 1954.
Fittingly, the evening showcased the talents of youngsters whom the Dogs hope will be part of their next flag.
The exciting Luke Dahlhaus - who will next year wear the No. 6 guernsey made famous by Sutton, George Bissett and Johnson - came fourth despite missing the last five games with an ankle injury.
He was closely followed by another promising youngster, Mitch Wallis, who has already been touted a future leader of the club.
Tom Liberatore underlined his potential by finishing seventh despite receiving a season-ending four-match suspension for off-field matters.
The only Bulldog to be nominated in the All Australian squad - Robert Murphy - came sixth.
Although there would have been short odds for a Boyd-Griffen quinella, there were some surprises.
Veteran fullback Brian Lake seemed under-appreciated in 10th place after completing what many regarded as a terrific return from an injury-plagued 2011. The 30-year-old was second in the AFL in marks (160) and 11th in contested marks (34).
Ruckman Will Minson was a shock omission from the top 10 after carrying the club's young big-man brigade and leading the competition in hit-outs.
Others to miss the top 10 included Shaun Higgins and veteran Daniel Giansiracusa, two of the Dogs' top three goalkickers this season.
Charles Sutton Medal - top 10
Matthew Boyd 168
Ryan Griffen 150
Liam Picken 110
Luke Dahlhaus 91
Mitch Wallis 88
Robert Murphy 86
Tom Liberatore 81
Tory Dickson 60
Daniel Cross 59
Brian Lake 57
