Ference has worked on behalf of the Edmonton Oilers Community Foundation and other charitable organizations since signing with the team last summer.
The veteran defenceman, who brought the community fitness-oriented November Project to Edmonton from Boston, was named captain just a couple of months after signing a US$13-million, four-year deal with the Oilers.
Ference is the third Oilers player to win the King Clancy. Ethan Moreau won the award in 2009 and current team president of hockey operations Kevin Lowe won in 1990.
Former Bruins teammate Patrice Bergeron was the 2013 recipient.
The Edmonton native will be honoured at the NHL awards gala next week in Las Vegas.