It was another stellar month for Leicester, who are on the cusp of automatic promotion to the Premier League.
Last weekend's 2-0 win at second-placed Burnley was crucial, as was their ability to come from behind to gain points against Blackpool and Yeovil.
Dave Bassett chairs the Sky Bet Manager of the Month judging panel and he said: "Leicester have only conceded three goals in six games so this award is truly deserved for the Sky Bet Championship pace setters."
On-loan midfielder Morrison picked up the player prize after he provided an assist and five goals, including a fabulous free-kick in QPR's 2-0 win at Birmingham City.
Morrison told Sky Sports News Radio: "It's been really good. I've enjoyed every game I've played in. I've just tried to get game time again and show them what I can do.
"I've enjoyed it because we keep a lot of the ball. You get a lot of time in the Championship, too, so you can do more stuff on the ball."
QPR manager Harry Redknapp added: "I am really pleased for him. He is a kid with amazing football ability. It would be a real waste if he doesn't become a top England player of the future."
In Sky Bet League 1, the manager of the month award went to Kenny Jackett after Wolves won six of their eight matches and scored 18 goals.
Bassett said: "Kenny's side showed great consistency throughout March. The club played five matches away from home - and an incredible 9,000 travelling fans saw the win at MK Dons."
The player award went to Coventry striker Callum Wilson, whose poise in front of goal has continued to amaze in his first season of League football.
He has assumed sole responsibility up front since Leon Clarke left the Sky Blues, and scored in five straight games, notching seven goals in total.
Wilson told Sky Sports News Radio: "After coming back from injury it's nice to hit the ground running and pick up where I left off before."
And regarding his season as a whole, he added: "I just tried to stay fit because I always knew when I eventually got my chance on the pitch that I'd be able to show people what I'm about. It was just getting that opportunity and staying fit, which I have done for the majority of this season, which is why I've had such a good season so far."
Coventry manager Steven Pressley added: "I'm absolutely delighted for Callum. To see the way he has got himself straight back into scoring form after more than two months out is a testament to the boy."
Meanwhile, York City boss Nigel Worthington has taken the Sky Bet League 2 prize after his patient approach paid off in spectacular style as his side gained 19 points from 21.
Worthington has made York hard to break down after they conceded just one goal in seven games and Bassett said: "It's been a fantastic month for Nigel Worthington. This is a just reward for a very well organised team, which has gone seven matches undefeated."
Rochdale midfielder Jamie Allen took the player accolade in League Two after helping his side move to the top of the table following an impressive month which included both goals in the 2-0 win at Wycombe.
Allen told Sky Sports News Radio: "We've done very well this month, we've not conceded that many goals and we've got the points that we needed. I feel confident playing in this league now, I'm just happy that I got my chance from the manager and the players are happy playing with me. I'm enjoying it."
Dale boss Keith Hill added: "He has been excellent for us, not only this month, but throughout the season, and I'm absolutely delighted for him. Jamie works hard in training, he works hard on the pitch and he's got a natural ability. We're very fortunate to have that type of talent at our football club."