Anthony previously hadn't played in a year after getting released by the Houston Rockets just 10 games into his time with the team.
The Blazers took a flier on the 10-time All-Star, signing him to a non-guaranteed deal last month.
After getting off to a rough start in the first three games, Anthony looked like his former self this past week, averaging 22.3 points, 7.7 rebounds and 2.7 assists over three games.
The award comes as a major surprise considering Anthony had trouble finding work in the offseason.
He played just 10 games with the Houston Rockets last season before the team "parted ways" with Anthony.
The Rockets were able to trade Anthony to the Chicago Bulls in January, but the Bulls didn't want Anthony around either.
Once the season was over, Anthony expressed a desire to return to the NBA.
It took until November for the Trail Blazers to finally give Anthony a contract.
"Just happy for him... It was well-deserved. I don't think he was treated the right way, how they left him out there being a future Hall of Famer.
As you can see, he can still run it up and down the floor."
"It's great. I hate that the first game he came back the media was all about his +/-, I hate the narrativescreated by him being back.
Melo's a great player, going to be a great player. Shoutout to Portland for opening that door back up."
Carmelo Anthony wins Western Conference Player of the Week after scoring 67 points in 3 games, James Harden, who scored 60 points in 3 quarters this weekend.
Really cool that Carmelo was named Western Conference Player of the Week!
Even though James Harden scored 60 points in three quarters, it's still cool that Melo won it. Did I mention Harden scored 60 and sat the entire fourth?
Doncic and Harden will have plenty of chances to win the award moving forward.
This could be the last time Anthony is up for something like this, though it would be foolish to doubt him considering everything he's accomplished just six games into his return.