The 36-year-old guard has 15 NBA years of experience under his belt, and received 20.7 percent of the vote, beating out the likes of Shane Battier, Derek Fisher, Jason Kidd, Steve Nash, Grant Hill and fellow Clipper Chris Paul.
Billups was also seen as one of the NBA's best team leaders. He ranked third at 10.3 percent, but lost out to Paul, who took home 27.6 percent of the votes. Paul was also voted the best team leader last year.
Paul was named the second-best passer, although he lost by a sizeable margin to Los Angeles Lakers point guard Steve Nash. Paul was voted the best passer in the league last year. He was also voted the best point guard in the league by a large margin.