The commissioner's office made the announcement Tuesday.
Lind batted .305 with 35 home runs, 114 RBIs and 46 doubles last season. He appeared in 95 games as a DH, compiling a .299 average with 21 homers and 74 RBIs.
The 26-year-old Lind, who also won a Silver Slugger award this year, becomes the third Toronto player selected as outstanding designated hitter. The others were Hall of Famers Dave Winfield in 1992 and Paul Molitor in 1993.
The award was named in 2004 in honor of former Seattle Mariners designated hitter Edgar Martinez, who is on the Hall of Fame ballot for the first time this year.