Moyes took over at Goodison Park on March 14 2002 and the Scot has "worked miracles" on a limited budget, said League Managers' Association chairman Howard Wilkinson, who added that it showed success was not just about winning trophies.
Wilkinson said: "David is one of those rare players who decided at a very early age that he was going to be a manager, a good manager and then a great manager."
He added: "For me his records, first at Preston and now at Everton, put him right up there with current managerial greats and prove the point that winning trophies can never be the only definition of being a 'winner'.
"In his 10 years at Everton he has worked miracles with the resources at his disposal and at the same time he has managed to turn a football club into an institution. If he were to leave tomorrow, his successor would discover David's blood running through every brick and piece of turf both at Goodison and at Finch Farm.
"There can be no greater accolade than the admiration of your peers. David has been voted LMA Manager of the Year a record three times, proving the esteem the game has for him and the job he has done.
"His chairman, Bill Kenwright, an Evertonian through and through, must wake up every morning with a smile on his face knowing that David is manager of the club he loves."
LMA chief executive Richard Bevan said Moyes' achievements showed the benefits of stability and continuity at a football club.
He added: "In an industry that sees such frequent turnover over of managers, the achievements of this stable partnership between club and manager cannot be underestimated.
"At just 48, David can still be considered a relatively young manager and to already have over 14 years experience in football management, during which time he has managed very nearly 700 games with a superb win ratio of 44%, is an outstanding feat."
Source: PA
Source: PA