The veteran midfielder beat Ronaldo and Liverpool's Mohamed Salah to the award.
Earlier, he had won the UEFA's men's player of the year award for the 2017-18 season.
The event starts at 6:30 PM.
The 33-year-old Modric had no interest in discussing whether he deserved the honour.
"I would like to thank those who voted for me". "I'm very proud of all the good things I've achieved this year, and it will be remembered for a long time for sure".
The Los Blancos midfielder was awarded the Golden Ball for being the best player at the World Cup in Russian Federation earlier in the summer and added to his collection by becoming the Champions League's Midfielder of the Season on Monday evening, beating his teammate Toni Kroos and Manchester City's Kevin De Bruyne.
Modric enjoyed a stellar season, winning a third consecutive Champions League with Real before leading Croatia to the World Cup final, where they lost to France.
The best goal category - established in 2009 - is inclusive of women, but none appeared on the top 10 list this year.
Salah seems to be the only footballer around who is able to mobilize a global army of loyal followers who flood online voting platforms and essentially guarantee the star a win whenever a poll like that is brought to the masses.
A number of other awards were handed out on the star-studded night, including the FIFPro World XI side, marking a global All-Star team for the year. "It's for all my Real Madrid teammates".
Lyon boss Reynald Pedros did win the award for best women´s coach, though, after winning the Champions League with the French giants.
Every national team captain is afforded the chance to have their say and the two five Ballon d'Or winners' choices have been revealed on the official Federation Internationale de Football Association website.
It is for my Real Madrid team-mates, the Croatia national team and all my coaches.