The rankings are determined by votes from fellow NFL players.
Brady, who was also voted No. 1 in 2011, was the first player to earn the top spot twice in seven iterations of the list when he claimed it in 2017.
At 40 years old, Brady won the third MVP of his career after throwing for 4,577 yards, 32 touchdowns and eight interceptions last season. He led the Patriots to an eighth Super Bowl during his tenure, but failed to claim his sixth title as the Eagles won 41-33.
Brady threw for 505 yards and three touchdowns in the contest.
Atlanta Falcons wide receiver Julio Jones placed fourth in the rankings, followed by Steelers running back Le’Veon Bell. Los Angeles Rams running back Todd Gurley went from unranked to sixth, and teammate Aaron Donald placed seventh.
New Orleans Saints quarterback Drew Brees and Denver Broncos linebacker Von Miller ranked eighth and ninth, respectively. Green Bay Packers QB Aaron Rodgers, ranked No. 1 in 2012, rounded out the top 10.