Molyneux came off the bench against Charlton Athletic and grabbed a stunning equaliser for Graeme Lee’s side to force a penalty shootout where Pools would ultimately prevail.
That victory over Charlton has set up a tantalising semi-final tie with League One leaders Rotherham United at the Suit Direct Stadium next month.
Molyneux has been in excellent form for Pools in recent weeks with his textbook quarter-final strike against the Addicks one of three goals in his last four games following a man of the match display against Barrow in League Two in midweek.
Speaking on the award Molyneux said: “I am delighted to win the award. I always want to help the team as best I can whether that’s starting or coming off the bench.
“We will do everything we can in the semi-final to get past Rotherham and get us to Wembley.”