The 30-year-old winger made an immediate impact at Everton after joining on a season-long loan from Manchester City.
Grealish's standout performances included four assists across just two matches, a tally double that of any other player in the league during August.
He set up both goals in Everton's 2-0 home win over Brighton and followed it with two more assists in a thrilling 3-2 victory at Wolverhampton Wanderers, pushing Everton into fifth place in the Premier League table.
By registering multiple assists in consecutive Premier League matches, Grealish became the first Everton player to do so in the competition's history.
He now has the chance to extend this record by assisting two or more goals in three consecutive games when Everton face his former club Aston Villa at home.
Before this breakout month, Grealish had only twice recorded two assists in a single Premier League game despite making 193 appearances since his debut with Aston Villa in 2014. The award also makes him Everton's first player to win Player of the Month since Dominic Calvert-Lewin in September 2020.