The Rainbows - who play the winner of the New Mexico-San Jose State game Thursday in their WAC tournament opener - were the division co-champion with Fresno State.
Coach of the year honors went to Hawaii's Riley Wallace in the Pacific and Tulsa's Steve Robinson in the Mountain Division.
UH guard Alika Smith was named to the Pacific Division second team and the Pacific all-defensive squad.
"You can't be coach of the year without having the MVP on your team," Wallace said yesterday. "It's a great honor for A.C. and Alika. And, like I've said all along, this was a special team so it's a tribute to everyone."
Utah's Keith Van Horn was named player of the year for the third consecutive year, this time for the Mountain Division in the expanded WAC.
Van Horn also was named to the division's first team and all-defensive team. Utah was the Mountain Division regular-season champion.
Named to the Pacific Division's first team were Carter, Keon Clark and Tyrone Nesby of Nevada-Las Vegas, HL Coleman of Wyoming and San Jose State's Olivier Saint-Jean.
On the Mountain Division's first team are Utah's Michael Doleac and Van Horn, Texas Christian's Mike Jones, Tulsa's Shea Seals and New Mexico's Charles Smith.
Van Horn, a 6-10 senior forward, was WAC player of the year in 1995 and 1996 and is only the second WAC player to be named first-team all-conference all four years of his collegiate career.
Van Horn is second in the WAC in scoring with a 22-point average, leads the WAC in free throw percentage with .881, is third in 3-point field goal percentage at .420 and averages 9.3 rebounds.
Carter, a 6-2 junior guard, leads the WAC in steals with a 2.8 average, second in assists at 6.6, fourth in scoring with a 19.1 average and fifth in field goal percentage at .507.
Wallace earned the coaching honor for leading the Rainbows to their first share of a WAC basketball title with a 12-4 record in the Pacific Division and 20-6 overall. Wallace won the WAC coaching honor the first time in 1989.
Tulsa's Robinson won Mountain Division coaching honors for leading the Golden Hurricane to a 12-4 WAC record (22-8 overall) and second place in the division.
The rest of the Pacific second team is: Bryan Christiansen, Colorado State; Daymond Forney, Fresno State; Chris Herren, Fresno State, and Jason Richey, San Diego State.
The Mountain second team is: Shaun Igo, Rice; Malcolm Johnson, TCU; Jay Poerner, SMU; Clayton Shields, New Mexico, and Kenny Thomas, New Mexico.