De Bruyne had already won this title in 2019-2020.
He has scored 15 goals and provided 13 assists this season, which could end with another title for Pep Guardiola's men.
The Belgian finished ahead of another team-mate, Joao Cancelo, two Liverpool players, Trent Alexander-Arnold and Mohamed Salah, followed in the voting rankings by Jarrod Bowen (West Ham), Bukayo Saka (Arsenal), James Ward-Prowse (Southampton ) and Son Heung-min (Tottenham).
"I am very proud to win this trophy for the second time," reacted de Bruyne, stressing that there is "so much quality in the Premier League that it is a great pleasure to be named alongside so many great players who have had an incredible season at their club".
De Bruyne is the 4th player to win this trophy twice, after Thierry Henry, Cristiano Ronaldo and Nemanja Vidic.
Foden, 21, was also instrumental in City's season in the Premier League, scoring nine goals and providing five assists for his partners, the same as last season.
He could exceed that total on Sunday against Aston Villa, in the decisive game of the duel at the head against Liverpool.
Manchester City's Belgian striker Kevin De Bruyne on the pitch at Wolverhamton in the Premier League, May 11, 2022 Paul ELLIS AFP / Archives
Foden finished ahead of Alexander-Arnold, Mason Mount (Chelsea), Declan Rice (West Ham), Saka and Aaron Ramsdale (Arsenal).
Pep Guardiola's men are one point ahead of the Reds and have their destiny in their hands.
They will be champions if they beat Villa, now coached by former Liverpool player Steven Gerrard, at the Etihad Stadium.
© 2022 AFP