Stewart, a three-time major champion, died seven years ago in a freak plane crash.
'Gary Player represents everything this award stands for,' PGA TOUR commissioner Tim Finchem said. 'As one of the most traveled athletes in all of sports, Gary's love of the game and thirst for life spread to everyone around him.'
Player won 163 titles worldwide, including nine majors. He is among only five players to have captured the career Grand Slam. Off the course, the Gary Player Foundation has helped to build the Blair Atholl Schools in South Africa for more than 500 students.
Previous winners have been Jack Nicklaus, Arnold Palmer and Byron Nelson in 2000; Ben Crenshaw in 2001; Nick Price in 2002; Tom Watson in 2003; Jay Haas in 2004; and Brad Faxon last year.
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