The 34-year-old forward beat off competition from Brentford goalkeeper Simon Moore and Doncaster defender Rob Jones to land the prize.
Lisbie notched five goals in as many games during the month, which witnessed a remarkable turnaround in the O's fortunes.
He got the Londoners' eight-game winning streak going with a brace in the 2-1 win over Shrewsbury and continued his fine form throughout November.
Another two-goal haul followed against Portsmouth, while the former Charlton man was also on target against Preston North End.
npower Sponsorship Manager Emma Collins said: "Despite his advancing years, Kevin Lisbie is clearly still a vital part of the Leyton Orient squad and thoroughly deserves this award. Five goals in five games is great form and even without the goals, his experience and influence must be invaluable for the O's."