The Tottenham Hotspur youngster's sweet second strike against Sheffield Wednesday has seen him selected for the April award.
After flicking home a neat opening goal in a 4-1 win over The Owls, Lankshear doubled his and his side's tally when he picked up the ball inside the attacking half, took a clever touch inside, and whipped the ball into the top right corner from outside the penalty area.
In The U's final home game of the Championship season, the 21-year-old said goodbye to the United faithful in style before returning to Premier League club Spurs this week.
Lankshear is up against Coventry City's Frank Onyeka, Ipswich Town's Kasey McAteer, and Charlton Athletic's Charlie Kelman for the monthly accolade.
After joining on loan last summer, the English centre forward gradually became a fan favourite at the Kassam Stadium due to his exemplary performances and attitude.
Lankshear was The Yellows' Golden Boot winner this season with 12 goals in all competitions whilst playing in a struggling side that were relegated to League One.
He also scooped up the Young Player of the Year award at Oxford's awards night in April.
The U's finished 22nd in the Championship and will play in League One next season.