The Walter Frazier Award is awarded to the Professional Inline Hockey Association is deemed the most valuable player in the Founders Cup Playoffs.
Shane Byrd was the winner of the first Walter Frazier Award at the conclusion of the 2002 PIHA season. There has been 8 different winners of the Walter Frazier Award, as no player has ever won the award twice. The winner of the award has always been a member of the Founders Cup winning team.
| Season | Winner | Team |
|---|---|---|
| 2009 | CJ Yoder | Colorado Springs Thunder |
| 2008 | Josh Laricchia | Phoenix Dragons |
| 2007 | Rodney Millette | Boston Roller Rats |
| 2006 | Joe D'Aloisio | Philadelphia Growl |
| 2005 | Jason Kalish | Philadelphia Growl |
| 2004 | Brian Yingling | York Typhoon |
| 2003 | Geoff Finch | York Typhoon |
| 2002 | Shane Byrd | York Typhoon |