In the citation, the award was given by the FIFA Committee for Security Matters and Fair Play 'for a special act of good sportsmanship in an English Premiership match last season.
'Faced with the possibility of scoring an easy goal, Di Canio chose instead to catch the ball with his hands and thus stop the play in order to allow the injured opposing goalkeeper to be treated.'
Also at the ceremony was David Beckham, who was pipped to the FIFA World Player of the Year trophy for 2001 by Luis Figo.
"It was a commendable act by Paolo and typifies his good reputation as a sportsman at West Ham," says Paul.
"We all remember the incident well and I trust Paolo enjoyed receiving the accolade, which he so rightly deserves."
Paolo has already been given an award to commemorate the gesture from Everton fans, but it is the FIFA award which really puts him in the spotlight.