The Danish teenager scored 11 times for Dave Watson's side last term, and his strike against Derby County in November was included on a five-man shortlist for the award.
Sorensen picked the ball up in his own half and ran at the Rams' defence before unleashing an unstoppable shot which flew in off the underside of the bar.
The shortlist was drawn up at the Premier League Youth Development Conference last month and the winning goal was scored by Derby's Jason Knight.
Also nominated were Michael Obafemi of Southampton, James Rowland of Shrewsbury and Ethan Galbraith of Manchester United.