Instead, Liverpool's Mohamed Salah won for a goal against Everton during his debut season on the Merseyside.
Bale broke his silence over missing out on the honor, telling FourFourTwo that overlooking his goal has dwindled the value of the award.
"Yeah, I was surprised by that, to be honest," the Wales international said. "What can you say?
"It makes the award look a little diminished, although it was obviously a great goal by Salah."
Bale had only been on the pitch for a matter of minutes before producing the spectacular goal which proved decisive in helping Real Madrid capture their third consecutive Champions League crown.
The Welsh star revealed he knew the ball was on target as soon as it left his foot, adding that the goal was probably the best of his career.
"It was instinctive," Bale said. "I got my body positioned correctly, got my footwork right, and caught it perfectly. When you catch the ball perfectly, you know it’s on target.
"I think you’d have to say that (it was my best goal). There haven’t been too many like that. I did love the one in the (2014) Copa del Rey final against Barcelona, but as this one was on such a big stage – the Champions League final, the biggest game in club football – and technically it was the winner, I’d have to say that it’s the best."
Although Salah's finish was quality, there's an argument to be made that his Puskas-winning goal wasn't even his best last season, as ESPN FC analyzed six other tallies from the Egyptian star more worthy of winning the award.
Nevertheless, here's the award-winning strike.