The Toy of the Year Awards revealed its 2023 Game of the Year as well as other category winners.

The nominations for the TOTY Awards were announced back in August 2023 (see "2023 TOTY Awards Nominations"). In the 2023 Game of the Year, Play Monster's 5 Second Rule beat out Beat the 8 Ball by Blue Orange Games, Disney Animated Game by Funko Games, Game Night in a Can by Goliath Games, KidKraft Beat Board by KidKraft, Magic 8 Ball Magical Encounters Board Game by Mattel, Inc., Search Party: Chaos at The Park by Relatable (formerly What Do You Meme?), and Shashibo Battle Shapes by Fun In Motion Toys. Other category winners of note included TMNT Mutant Mayhem figures receiving Action Figure of the Year, Squishmallows - Pokemon Collection winning Collectible of the Year, and as no surprise to anyone, Barbie: The Movie Dolls winning Doll of the Year as well as License of the Year (see "'Barbie' Boffo Tops 'The Super Mario Bros.'").