The youngster will pick up the trophy at Old Trafford on Wednesday evening before the club’s Under-18s side take on Nottingham Forest in the FA Youth Cup final.
Fernandez, who joined United from Real Madrid in 2020, will be presented with the award by Nick Cox, head of Academy, and Harry Maguire, club captain.
The 19-year-old has regularly trained with the first team in recent weeks after a stellar season at youth level, and was first named in a first-team matchday squad for April’s Premier League match against Chelsea.
Cox said: “Alvaro has been a standout performer from a really strong group of players within our Under-23s team.