McKinney, 28, beat competition from a shortlist of five to the award, which recognises marketers under 30.
This is the first time the Marketing Society has run a Young Marketer of the Year category.
McKinney joined IPC's Ignite! division in 2001 from digital agency Kerb. Before that, he worked in brand management at Procter & Gamble, where he was involved in developing the group's media strategy.
The judges handed McKinney the title on the strength of the relaunch of IPC's weekly music title NME. His marketing strategy is credited with contributing to a 5% rise in sales following the redesign.
Philippa Brown, former IPC group marketing director and now managing director of IPC TX, said: "For Niall to win this hotly contested award is a fantastic result not just for him personally but for IPC as a whole. It is testament to the fact that we attract the best talent and provide the tools and opportunities for that talent to thrive. His award is a really big thing."
IPC's award for internal marketing is also largely credited to Brown, who was responsible for overhauling the company's marketing structure, creating a marketing executive.
Last year, IPC introduced a number of initiatives including an internal training and development "toolkit" called Matrix to ensure continuity of marketing across all IPC brands.
The awards were held last night at London's Grosvenor House Hotel.
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