Leicester striker's 23 goals enough to earn him the 2019/20 prize, as Ings and Aubameyang just miss out.
Jamie Vardy has won the Golden Boot award for the first time after his total of 23 Premier League goals in 2019/20 proved unassailable on the final day.
The 33-year-old is the first Leicester City player to claim the award, which is presented by Cadbury, and is only the second Englishman after Harry Kane to take the crown in the last 20 years.
Vardy led the race going into the final day but could not add to his total in the 2-0 defeat by Manchester United as the Foxes missed out on a top-four finish.
"Jamie's been outstanding for us - our Player of the Season," Leicester manager Brendan Rodgers told the club's official website. "He knows he can't do it without his team-mates, but he also knows, and the team know, that they couldn't have done it without him.
"So, 23 goals for everything that he brings, I'm absolutely delighted for him and obviously we're all very happy for him."
Ings and Aubameyang fall short
Danny Ings started Matchweek 38 two goals behind Vardy and scored his first penalty for Southampton as they beat Sheffield United 3-1, but could not find the net again in his quest for a first Golden Boot.
For a second season running, Pierre-Emerick Aubameyang scored twice on the final day to take his tally to 22 goals in the hunt for the Golden Boot. Last season it was enough to earn him a share of the award.
This time around, Aubameyang's first-half brace in Arsenal's 3-2 win over Watford meant he fell one short.
Source: Premier League