Click here for the Goal of the Year
Collingwood's Jamie Elliott has won Mark of the Year, for his high-flying effort against Port Adelaide in round 14.
Click here for the Mark of the Year
Both players will receive a $10,000 cash prize.
Franklin's goal was voted the winner ahead of Gold Coast captain Gary Ablett's snap from the boundary against Geelong at Simonds Stadium, and Blue Andrew Walker's running goal against St Kilda at Etihad Stadium.
The four-time All Australian Hawk received a handball from Ben Stratton in the middle of the field, leapt over the falling Stratton and Collingwood's Sam Dwyer without breaking stride, and bounced a kick home from long range.
Elliott beat out entries from Port Adelaide's Jay Schulz and West Coast ruckman Nic Naitanui.
The Magpies small forward jumped over a pack of three Power players to haul in his screamer.
The winners were decided by the All Australian selection panel, consisting of AFL CEO Andrew Demetriou, football operations manager Mark Evans, and former players Danny Frawley, Kevin Bartlett, Mark Ricciuto, Luke Darcy, Glen Jakovich and Cameron Ling.