James' award was also his third MVP nod in four seasons. He joins eight other players in league history to win the prize three times.
"This is my ninth year in the NBA," James said during a ceremony Saturday in Miami. "Less than 10 years ago, I had dreams of being in the NBA. I had dreams of putting on an NBA uniform. I never dreamt about being a Most Valuable Player."
James, who averaged 27.1 points, 7.9 rebounds and 6.2 assists in 62 games this season, received 1,074 points in the voting, including 85 first place votes.
Coming in second was Oklahoma City's Kevin Durant with 889 points.
2014: The Year in Fashion [PHOTOS]
LeBron James reveals his new Nike shoes