The Red Lichties had a strong run in December, starting the month with a 0-0 draw with Raith Rovers at home, before securing victories against Partick Thistle, Morton and Dunfermline Athletic, ending the month undefeated.
At the time of writing, Arbroath currently sit top in the Championship league table.
This award is Campbell’s second this season, having also been named as the Glen’s Manager of the Month for September.
But the Lichties boss, who has maintained that survival in the league is the club’s main priority, pointed out that he was picking up the award for everyone connected to the Gayfield club.
Campbell said: “I certainly appreciate Glen’s Vodka for everything they do. I’m very, very happy for everyone connected with the club.
“The secret of management for me is being able to get good staff and also make sure their input is as important.
“Getting the Glen’s manager of the month award is a reflection of that, there is no doubt about that. I’d like to thank everyone involved.”
Colin Matthews, CEO of Glen’s owner the Loch Lomond Group, said there couldn’t have been a more deserving winner.
“Sitting top of the table, Campbell’s side has shown determination and teamwork, managing to pull out wins even when Dick wasn’t able to be at the pitch side due to Covid-19,” said Matthews.