Giggs was named the winner after a record number of votes were cast on the competition's website and he flew in to Monaco to attend Monday night's Golden Foot award ceremony.
Giggs received the award from Prince Albert II of Monaco, and then said he had been "fortunate to play for the greatest manager" in football.
"He's hard but fair. He demands a lot from his players as he does from himself," Giggs was quoted by ManUtd.com as saying.
"He is the best manager and it's great to have had him there throughout my career."
A permanent mould of Giggs' footprints will now be place on Monte Carlo's 'Champions Promenade' along with that of previous winners which include legends Roberto Baggio as well as Ronaldo from Brazil.
"It's a great honour to win such an award and to have my footprints alongside some of the greatest football players is a real privilege," Giggs said.
"I have been fortunate to play alongside great players, play for the greatest manager and play for the best club in the world. At the moment I am still enjoying my football so I have not thought about what I will do when I finish, but if it all finished tomorrow I could say that I have had a fantastic career and wouldn't swap it with anybody."
According to the Golden Foot website, the annual award honours footballers aged 29 or over who "stand out for their sport results (both as single players and with their team), for their personality and for the esteem of the public and football experts."
Previous winners include Francesco Totti (2010), Ronaldinho (2009), Roberto Carlos (2008), Alessandro Del Piero (2007), Ronaldo (2006), Andriy Shevchenko (2005), Pavel Nedved (2004) and Roberto Baggio (2003).