The Ulster flyhalf is joined in the team by centre, Stuart McCloskey, who scooped two player of the year awards at the Ulster gala dinner.
Cooney was one of three players to retain their places in the Dream Team from last season - prop Tadhg Beirne (Munster) and second row Scott Vardy (Leinster) the other two.
Revealed on Premier Sport TV last night, a media panel of over 75 including former players and coaches from across Ireland, Italy, Scotland, South Africa and Wales determined the best performing players from the current campaign.
In total, 11 clubs are represented in a XV where competition in the voting was incredibly close, and only a handful of positions were selected with a clear majority.
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Edinburgh, Munster, Connacht and Ulster were the only teams with more than one player in the Dream Team.
Edinburgh, Munster, Connacht and Ulster were the only teams with more than one player in the Dream Team which includes the Guinness Players’ Player of the Season – Bill Mata of Edinburgh.
Rabz Maxwane of the Toyota Cheetahs is another award winner included, the Toyota Cheetahs winger scored a record-equalling 14 tries in the Guinness PRO14 season – nine of them scored away from home – and was voted in as the left wing.
Guinness PRO14 Dream Team 2018/19
1. Pierre Schoeman (Edinburgh)
2. Ken Owens (Scarlets)
3. Zander Fagerson (Glasgow Warriors)
4. Tadhg Beirne (Munster)
5. Scott Fardy (Leinster)
6. Peter O’Mahony (Munster)
7. Colby Fainga’a (Connacht)
8. Bill Mata (Edinburgh)
9. John Cooney (Ulster)
10. Jack Carty (Connacht)
11. Rabz Maxwane (Toyota Cheetahs)
12. Stuart McCloskey (Ulster)
13. Rey Lee-Lo (Cardiff Blues),
14. Monty Ioane (Benetton Rugby)
15. Dan Evans (Ospreys)