The Bit O’Red captain has been central to their rise to the top of the Premier Division table, particularly impressive in midfield against his former side Shamrock Rovers.
32-year-old Bolger, a league winner with the Hoops, Cork City and St Patrick’s Athletic, previously claimed the award in June 2016.
“I think there could have been two or three Sligo lads up for the award because everyone has been excellent,” the Wexford native said.
“It’s nice that I’ve won it and I’m grateful but it could have been any of my team-mates. My performances have been good and I’m happy enough but I still think there is more in me.”
Derry City’s Will Patching finished second in the voting, while Drogheda United midfielder Gary Deegan was third.
After the mid-season break, Sligo are back in action with a home fixture against the Drogs on Saturday evening, and Liam Buckley’s side will be aiming to continue their fine form.
“We’ve started very well and when you consider that five or six new lads have come into the team, we’ve done really well to gel quickly,” Bolger added.
“I still think there is more improvement in us and there are some games where we haven’t played well but dug out results, which is a good thing.
“As the season goes on, hopefully our performances will get better.”