De Bruyne is the first Manchester City player to make the XI, while Hazard, perhaps a surprise selection considering his sometimes patchy form for Chelsea, was in sensational form for Belgium during the European Qualifiers scoring six goals in eight games as well as recording five assists.
A grand total of 8,779,639 million votes were cast by supporters around the world, an increase of over 1.6 million on the previous year's tally of 7.15 million.
The team included five Real Madrid players, two Juventus players and one player from Barcelona, Chelsea, Manchester City and Paris Saint-Germain each. The European football's governing body on Thursday revealed the star-studded team on their twitter account.
Kevin de Bruyne and Eden Hazard are the only two Premier League players named in the UEFA Team of the Year.
As is the norm, Real Madrid dominate the side - with Sergio Ramos, Marcelo, Luka Modric, Toni Kroos and Cristiano Ronaldo all included. A poll of users on UEFA.com picked Cristiano Ronaldo, Sergio Ramos, Luka Modric, Toni Kroos and Marcelo among the best players of past year.
His former teammate Dani Alves is also selected, but Neymar - who left Barcelona for PSG in a world-record €222 million move in the summer - was not among the names to make the cut following nearly 8.8 million votes being cast.