The Norwegian striker has been sensational for Lucien Favre’s side following his January move from RB Salzburg, with 16 goals in 18 games in the second half of the 2019/20 season.
He has picked up that incredible form during the current campaign, with 15 goals in 12 appearances so far, for the Bundesliga side.
Haaland secured the title of the world’s best U21 footballer, via the award, with 302 votes, ahead of Fati on 239.
Fati enjoyed his own meteoric rise last season, after breaking into the Barcelona first team, with seven La Liga goals.
He is set to be sidelined until 2021 after undergoing knee surgery earlier this month, with Ronald Koeman’s side already feeling his absence from their starting line up.
Bayern Munich full back Alphonso Davies finished in third place, with 226, with Jadon Sancho and Eduardo Camavinga in fourth and fifth with 80 and 50 votes respectively.