Turner’s side notched up 13 points as Town went through the month unbeaten, with four wins and a draw.
Former Charlton Athletic boss Alan Curbishley chairs the npower Manager of the Month judging panel.
He said: “Shrewsbury’s success has been built on a sturdy defence – conceding only one goal in five games.
“Turner’s side are now in firm contention for promotion from League 2.”
npower Head of Sponsorship Emma Collins said: “Shrewsbury have been solid at the back, and free-scoring up front.
“11 goals for, and only one against, is an excellent return, and the Shrews will be looking to maintain their good form as the season hots up.”
In the npower Championship, Swansea City boss Brendan Rodgers scooped the prize, whilst the League 1 Award went to Peterborough United manager Darren Ferguson.
The judging panel comprises former Charlton Athletic manager Alan Curbishley, Sky Sports Football League expert Peter Beagrie, Football League Chief Operating Officer Andy Williamson, BBC Sport’s Mark Clemmit, League Managers Association Deputy CEO Olaf Dixon and npower Head of Sponsorship Emma Collins.
Meanwhile, Bury’s Ryan Lowe has been named as February’s npower League 2 Player of the Month.
Lowe netted seven goals in six games during the month, to keep Bury’s automatic promotion hopes alive.
npower Head of Sponsorship Emma Collins said: “Lowe’s recent form has been simply outstanding
“His consistency in front of goal has been a major factor in Bury’s promotion push this season.
“I’d like to congratulate Ryan on behalf of npower, and wish him and his team the best of luck for the rest of the season.”
In the Championship, Ipswich Town’s Connor Wickham picked up the npower Player of the Month Award while Peterborough United’s Craig Mackail-Smith was the winner in League 1.
The judging panel comprises Sky Sports Football League expert Peter Beagrie, Football League Head of Communications John Nagle, BBC Sport’s Mark Clemmit and npower Head of Sponsorship Emma Collins.