Stoudamire, who turned the the boos to cheers while averaging 19 points, 9.3 assists and four rebounds for the expansion Raptors, won the league's rookie-of-the-year award Wednesday in a landslide vote.
"Damon has given us a lot of joy and he's brought a lot to this franchise, a lot to this city," said Raptor General Manager Isiah Thomas, who congratulated Stoudamire with a kiss.
Stoudamire received 76 of a possible 113 votes from a panel of sportswriters and broadcasters.
Portland's Arvydas Sabonis, runner-up for the league's sixth man award Tuesday, was second in the rookie voting with 17. Golden State's Joe Smith was third with 15.
"This is a great honor," said Stoudamire, a 5-foot-11 point guard from Arizona. "It's something I worked very hard for."
Other players receiving votes were Jerry Stackhouse of Philadelphia (2), Michael Finley of Phoenix (2) and Kevin Garnett of Minnesota (1).