The month saw the German Head Coach guide his side to an unbeaten run which brought five wins and a draw including impressive victories over promotion rivals Brighton & Hove Albion, Leeds United and Reading.
It is the second time the 45-year-old has collected the monthly accolade, having previously won the award in August after masterminding Town’s unbeaten start to the campaign.
However, just as the popular German did earlier in the season, he dedicated the award to everyone connected to the club.
Wagner said: “As was the case in August, I only accept the February Manager of the Month award on behalf of every player, member of staff and everyone else connected with this special club, Huddersfield Town.
“We have enjoyed such good results this month because of the excellent, consistent level of performance from every player in the squad.
“That happens because of self-belief, trust in each other and hard work every day at the training ground.
“I’m very proud of everyone in this group; it is a pleasure to work with this squad and staff.”
Former Ipswich Town manager George Burley who now chairs the SkyBet Manager of the Month judging panel was full of praise for the transformation the club has undergone under the German’s tutelage.
He said: “Huddersfield Town have had an exceptional February, which has given them a realistic chance of gaining automatic promotion.
“David has moulded the team to play a very expansive style of football which is attractive and exciting to watch.”
Meanwhile, another of the judging panel, the former Wolverhampton Wanderers forward and now Sky Sports’ EFL pundit Don Goodman said: “For much of January it appeared that the race for automatic promotion from the Championship was all but done.
“However, Huddersfield weren’t giving up the fight to catch the top two just yet and are now in contention after a series of great wins during February.
“They steamrollered Brighton – a very rare thing over the last couple of seasons – and beat Leeds United and Reading at home while negotiating difficult away fixtures at Barnsley and QPR to go into March with a realistic chance of reeling the runaway leaders back in.’’
Town’s on-loan Chelsea forward Izzy Brown was also nominated as SkyBet Championship Player of the Month.
However, the Peterborough-born 20-year-old was unfortunately pipped to the award by Preston North End winger Aiden McGeady.