It's the fifth consecutive time Federer has won the monthly U.S.-based publication's award.
"Roger's serve is more of a weapon than it may appear, and that forehand is deadly," fourteen-time Grand Slam champion Pete Sampras writes in the January-February issue.
"What most impressed me, though was the speed at which he can go from defense to offense. His ability to take command from any place on the court, at any stage of a point, may be his greatest gift of all."
The magazine said Federer's victory against Rafael Nadal in the Wimbledon final was the best men's match of 2007, while Henin's victory against Maria Sharapova at the season-ending Sony Ericsson Championships was the best women's match of the year.
Sharapova was selected the year's biggest disappointment by the magazine, while Novak Djokovic was called the most improved player.
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