Although Reina has won this award three years running Rafa Benitez believes his keeper doesn't get the recognition he deserves.
"Pepe is a 'keeper in a top side, so he has less to do. If he played for a lesser team he would be fantastic because he'd be involved all the time. He is a very good goalkeeper," the Reds boss told the club's official website.
"I am not surprised. When you see the performance of Pepe in every game, and also the team in defence, you can understand why he normally doesn't concede too many goals. I am really pleased to be here again.
"When you talk about three seasons in a row, it means he is doing a good job. Always I say the same: for me, when we signed him he was the best 'keeper in Spain. He's really good, a good worker, he wants to learn - everything is positive now and for the future.
"Everyone likes to see strikers scoring goals but your 'keeper is always a key part of the team. When you don't concede many goals you always know you can win because you always create chances."