The decision was made Thursday following a vote carried out among journalists and experts from all over the world, reports Xinhua.
Del Bosque led the Spanish side to the European 2012 Championship this summer, retaining the title Spain won in 2008 and making the country the first ever to win back-to-back European titles.
Meanwhile Spain's qualification for the 2014 World Cup has also got off to a good start with two wins and a draw in their opening three matches.
The former Real Madrid boss earned 231 votes winning by a wide margin ahead of Italian national team coach Cesare Prandelli, who polled 83 votes. Mexican coach Fernando Tena came third with 70 votes, ahead of Germany's Joachim Loew with 48.
It is the third time Del Bosque has lifted the award after also winning the vote in 2009 and 2010 after Spain's World Cup success.
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