Swan finished behind Leigh Matthews Trophy winner Gary Ablett.
All AFL footballers vote on the award on a 3-2-1 basis and Ablett secured the award with 688 votes finishing ahead of Swan (584 votes), Chris Judd (546), Nick Riewoldt (343) and Joel Selwood (285).
Swan was also presented with the prestigious Herald Sun Player of the Year Award, recording the most round by round votes from Herald Sun football writers throughout the season.
The 2008 Copeland Trophy winner has played every game for the club in his seventh season.
He averaged 31.8 disposals, with 16 games with 30 or more disposals, and one 48-disposal game in Round 10.
The Herald Sun Player of the Year award has been football's leading media prize for the past 60 years.
Swan won $10,000 as well as the Herald Sun trophy.
