It is just the latest gong Lydiate, who was also named the Welsh Players' Player of the Year, has picked up following a memorable season with Wales.
The Newport Gwent Dragons star battled an ankle injury during the World Cup and produced thunderous displays against Ireland and France, despite limited game time.
Lydiate, who has been touted as Test Lion, continued to be plagued with ankle injuries and missed the RBS 6 Nations opener against Ireland but returned in red-hot form and claimed two man-of-the-match titles on his way to the overall award.
He took his red-hot form Down Under as Wales fell to an agonising series defeat but he will hope to return next year with the Lions.
And he has handed the Dragons and Wales a major fitness boost with the news that he no longer requires ankle surgery.
It had been feared that Lydiate would have to go under the knife to solve the long-standing problem but he will be fit and ready for the beginning of the new season.