He follows Olympic gold medallist Jade Jones, European Amateur golf champion Rhys Pugh, Spurs and Wales footballer Ben Davies and athlete David Omoregie as recent winners of this title.
The award is backed by Sport Wales, Cardiff Metropolitan University, the Village Hotel group and SportingWales magazine, with a glittering presentation dinner held at the Village Hotel in Cardiff.
The 19-year-old centre also won the overall Bob Humphrys Memorial Award, named after the former BBC Wales sports presenter. He was one of twelve up and coming sports men and women in Wales who received monthly Rising Star awards, who were in with a chance of winning the main prize.
Wales Women's rugby player Hannah Jones, Commonwealth Games double bronze medal winning gymnast Georgina Hockenhull and Commonwealth Games bronze medal winning swimmer Daniel Jervis were the runners-up.
Morgan commented: "This is an amazing achievement and I am really honoured to get it.
"This room is full of incredible young athletes; it is amazing to be thought of in the same away as all these others.
"I do have to pinch myself sometimes. In the World Cup squad I am sat having breakfast with people I grew up watching on TV, but you do also think you are making new friends, playing with your friends and doing something you love every day.
"The Six Nations was a bit annoying having a knee injury and not training very much, but now I am training every day in the World Cup squad and I am really enjoying it.
"It is pretty intense and that is only going to be more intense as we get into the training camps. With people like Scott Williams and Jamie Roberts around me I am learning all the time, which is helping my game and it is great to make friends with people like that.
"The training has already been really tough. There are a few times where you know you just have to keep going even though you are blowing more than you have ever blown before.
"This is just the start, we know it is going to get harder and harder, but when the World Cup comes round the boys will be in the best shape they have ever been in their lives and hopefully it is going to pay off."
The young gun is part of the wider group training for the World Cup, but with the injury to centre Jonathan Davies many are tipping the teenager for a place in the final 31 man squad for the competition and possibly even a starting place during the tournament.
"I have got hopes of being involved in the World Cup, but I will take whatever is given to me. Obviously Jamie and Scott are the two main candidates," he admitted.
"There is a little bit of confidence going into the camp from the end of the season with the Dragons, but I am happy to be there and hopefully there will be more World Cups as well.
"It is nice to get the praise, but you have to keep your feet on the ground or you won't learn, you won't take in what people tell you and you won't train properly. You have got to be modest to be a good professional athlete and learn all the time."
Also at the ceremony, monthly awards for March, April, May and June were presented to athlete Emily Wright, tennis player Ricky Tong, canoeist Will Coney and women's footballer Charlie Estcourt.
Sprinter Hannah Brier, cricketer Connor Brown, golfer Tim Harry and T38 sprinter Bradley Wigley were the others in contention for the Bob Humphrys memorial award for their performances in the last year.
SportingWales magazine editor Hamish Stuart commented: "Congratulations to Tyler, a deserving winner of the award, but when you look at the list of people he joins then he has plenty to live up to as well.
"There were some inspiring words from the likes of Sport Wales chair Professor Laura McAllister and Olympics legend Lynn Davies. We also had the chance to hear from Aled Sion Davies, Wales team captain at the Commonwealth Games, along with gold medal winner and flag bearer Frankie Jones.
"Thanks to the Village Hotel who put on a superb event as always, Sport Wales and Cardiff Metropolitan University who make these such sought after awards for young stars in all sports across Wales."
The award is backed by Sport Wales, Cardiff Metropolitan University, the Village Hotel group and SportingWales magazine, with a glittering presentation dinner held at the Village Hotel in Cardiff.
The 19-year-old centre also won the overall Bob Humphrys Memorial Award, named after the former BBC Wales sports presenter. He was one of twelve up and coming sports men and women in Wales who received monthly Rising Star awards, who were in with a chance of winning the main prize.
Wales Women's rugby player Hannah Jones, Commonwealth Games double bronze medal winning gymnast Georgina Hockenhull and Commonwealth Games bronze medal winning swimmer Daniel Jervis were the runners-up.
Morgan commented: "This is an amazing achievement and I am really honoured to get it.
"This room is full of incredible young athletes; it is amazing to be thought of in the same away as all these others.
"I do have to pinch myself sometimes. In the World Cup squad I am sat having breakfast with people I grew up watching on TV, but you do also think you are making new friends, playing with your friends and doing something you love every day.
"The Six Nations was a bit annoying having a knee injury and not training very much, but now I am training every day in the World Cup squad and I am really enjoying it.
"It is pretty intense and that is only going to be more intense as we get into the training camps. With people like Scott Williams and Jamie Roberts around me I am learning all the time, which is helping my game and it is great to make friends with people like that.
"The training has already been really tough. There are a few times where you know you just have to keep going even though you are blowing more than you have ever blown before.
"This is just the start, we know it is going to get harder and harder, but when the World Cup comes round the boys will be in the best shape they have ever been in their lives and hopefully it is going to pay off."
The young gun is part of the wider group training for the World Cup, but with the injury to centre Jonathan Davies many are tipping the teenager for a place in the final 31 man squad for the competition and possibly even a starting place during the tournament.
"I have got hopes of being involved in the World Cup, but I will take whatever is given to me. Obviously Jamie and Scott are the two main candidates," he admitted.
"There is a little bit of confidence going into the camp from the end of the season with the Dragons, but I am happy to be there and hopefully there will be more World Cups as well.
"It is nice to get the praise, but you have to keep your feet on the ground or you won't learn, you won't take in what people tell you and you won't train properly. You have got to be modest to be a good professional athlete and learn all the time."
Also at the ceremony, monthly awards for March, April, May and June were presented to athlete Emily Wright, tennis player Ricky Tong, canoeist Will Coney and women's footballer Charlie Estcourt.
Sprinter Hannah Brier, cricketer Connor Brown, golfer Tim Harry and T38 sprinter Bradley Wigley were the others in contention for the Bob Humphrys memorial award for their performances in the last year.
SportingWales magazine editor Hamish Stuart commented: "Congratulations to Tyler, a deserving winner of the award, but when you look at the list of people he joins then he has plenty to live up to as well.
"There were some inspiring words from the likes of Sport Wales chair Professor Laura McAllister and Olympics legend Lynn Davies. We also had the chance to hear from Aled Sion Davies, Wales team captain at the Commonwealth Games, along with gold medal winner and flag bearer Frankie Jones.
"Thanks to the Village Hotel who put on a superb event as always, Sport Wales and Cardiff Metropolitan University who make these such sought after awards for young stars in all sports across Wales."
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