The Brentford forward collected a loose clearance by Leeds goalkeeper Illan Meslier, who was outside his own penalty area, and dribbled past Diego Llorente and Meslier before chipping over the retreating Robin Koch from 25 yards out.
"It's in my top three," Toney told Brentford's official website. "It's a special one. As a striker, tap-ins are the best ones, but this is nice to have. It's an honour. It was outside the box, and I rarely score from there.
"I remember I was actually being a bit lazy! I was out wide and Keano [Keane Lewis-Potter] was running through. The ball dropped to my feet, then I took a bit of a heavy touch. Then I took full control and composed myself.
"The ball came at me quite quickly. I took the touch, the defender got a bit closer, then I chipped it into the net.
"Considering it was for my hat-trick, I knew I wasn't going to miss! I knew there was one outcome and that was the ball ending up in the back of the net."
Toney won after votes from the public were combined with those of a panel of football experts, beating strikes from Philip Billing, Aleksandar Mitrovic, Alexis Mac Allister, Joao Palhinha and Son Heung-min.
This is the first time the 26-year-old has won a Premier League award and he is the first Brentford player or manager to claim any of the monthly prizes following their promotion in 2021.
August: Allan Saint-Maximin (NEW)