WATCH every game of the 2020-21 NBL grand final series LIVE, FREE and in HD on SBS VICELAND or stream live via from 8:30pm (AEST) Friday, June 18.
Cotton tallied 112 votes after his standout season, beating out second-placed Tyler Harvey (74 votes) and third placed Nathan Sobey (55 votes).
The honour cements Cotton's place as one of the NBL's all-time greats, with the American winning three of the past four MVP awards, including the past two.
He joins esteemed company, alongside Andrew Gaze (7) and Leroy Loggins (3), as one of only three players to win the NBL’s MVP award three times or more.
Cotton, who will likely miss the grand final series against Melbourne United through injury, was also named in the All-NBL First Team.
He was joined in the team by Harvey (Illawarra Hawks), Sobey (Brisbane Bullets), John Mooney (Perth) and Jock Landale (Melbourne United).
Gleeson won coach of the year in 2011 when he was in charge at Townsville.
But astoundingly, he had been overlooked for the gong during his time at the Wildcats which has so far yielded five Championships.
That was until Wednesday night when Gleeson (56 votes) edged out Illawarra mentor Brian Goorjian (42 votes) and Melbourne United coach Dan Vickerman (35 votes).
Goorjian had strong claims on the award after leading the Hawks from last into the semi-finals.
Illawarra's Justin Simon was the winner of the Damian Martin Trophy for the Best Defensive Player, while his teammate Sam Froling won the Most Improved Player award.
NBL Next Star and projected first-round NBA draft pick Josh Giddey (Adelaide 36ers) won Rookie of the Year while Melbourne's Jo Lual-Acuil was the Best Sixth Man.
The All-NBL Second Team comprised of Finn Delany (New Zealand Breakers), Mitch Creek (South East Melbourne Phoenix), Chris Goulding (Melbourne), Mitch McCarron (Melbourne) and Casper Ware (Sydney Kings).
Despite Cotton’s likely absence, the Wildcats will be determined to add the NBL title to their haul when the finals series tips off on Friday night against Melbourne United at RAC Arena in Perth.
2020-21 NBL grand final series schedule - LIVE on SBS VICELAND and SBS On Demand
Friday 18 June
Perth Wildcats v Melbourne United - grand final game 1
20:30 - 22:30 (AEST) *Tip-off time 20:35*
LIVE on SBS VICELAND and SBS On Demand
Sunday 20 June
Perth Wildcats v Melbourne United - grand final game 2
17:00 - 19:00 (AEST) *Tip-off time 17:05*
LIVE on SBS VICELAND and SBS On Demand
Grand final game 3 to be added, along with games 4 and 5 (if required)