"I'm hugely proud and humbled to receive this award," said Barrett.
"It's a team game and I accept it on behalf of the team."
Hansen, who has previously won the award in 2012, 2013 and 2014 said the 2016 side have done well considering the international retirements of Richie McCaw, Dan Carter, Conrad Smith, Ma'a Nonu, Tony Woodcock and Keven Mealamu.
"We lost a few big trees after 2011 but that makes space for new guys to flourish," he said.
Former All Blacks coach Graham Henry is the only person to win the award more times than Hansen, with a record five awards.
England's Maro Itoje was named breakthrough player of the year, beating out All Blacks Ardie Savea and Anton Lienert-Brown.
In other awards England's Sarah Hunter won World Rugby Women's Player of the Year, an award Black Fern Fiao'o Fa'amausili was nominated for.
Seabelo Senatla (South Africa) was named World Rugby Sevens Player of the Year. Charlotte Caslick (Australia) won Women's Sevens Player of the Year beating Black Ferns Sevens ace Portia Woodman.
Caslick was hugely influential in Australia capturing both the World Series and Olympic crowns.
Ireland's Jamie Heaslip won the try of the year award for his effort against Italy. All Blacks halfback TJ Perenara was nominted for his effort against Argentina during the Rugby Championship.
Female referee Alhambra Nievas of Spain and South Africa's Rasta Rasivhenge were both named referee of the year.
World Rugby Men's Player of the Year
Beauden Barrett (New Zealand)
World Rugby Women's Player of the Year:
Fiao'o Fa'amausili (New Zealand)
World Rugby Team of the Year
New Zealand
World Rugby Coach of the Year
Steve Hansen (New Zealand)
World Rugby Breakthrough Player of the Year
Maro Itoje (England)
World Rugby Women's Sevens Player of the Year
Charlotte Caslick (Australia)
World Rugby Sevens Player of the Year
Seabelo Senatla (South Africa)
Try of the Year
Jamie Heaslip (Ireland, v France)
World Rugby Referee Award
Alhambra Nievas (Spain) and Rasta Rasivhenge (South Africa)
