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McCaw led to All Blacks to two World Cup triumphs in the decade and was named player of the year in 2010. He retired at the end of the 2015 World Cup.
Teammates Dan Carter, Kieran Read, Brodie Retallick and Beauden Barrett were all nominated alongside Thierry Dusautoir on France, Irish first five-eighth Johnny Sexton and Springbok Pieter-Steph du Toit.
France's Jessy Trémoulière took out women's 15s Player of the Decade, beating out New Zealand's Carla Hohepa, Kendra Cocksedge and Portia Wood.
Woodman did win two awards, however, claiming Women's Sevens Player of the Decade and Women's 15s Try of the Decade.
Fiji's Jerry Tuwai won Men's Sevens Player of the Decade, while Irish flanker Jamie Heaslip won Men's 15s Try of the Decade.
Six New Zealanders were named in the Women's 15s Team of the Decade - Woodman, Kelly Brazier, Cocksedge, Linda Itune, Eloise Blackwell and former skipper Fiao'o Fa'amausili.
Seven All Blacks made the men's team of the decade - Ben Smith, Ma'a Nonu, Carter, Retallick, Sam Whitelock, McCaw and Owen Franks.
All Blacks halfback Aaron Smith was snubbed, with Conor Murray of Ireland getting the pick at nine. While Italian Sergio Parisee was chosen ahead of Read at No 8.