There are four overseas players included in the side in Isa Nacewa (Leinster / Fiji), Casey Laulala (Cardiff Blues / New Zealand), Ruan Pienaar (Ulster / South Africa) and Richardt Strauss (Leinster / South Africa).
Heaslip, Man of the Match in Leinster's Heineken Cup semi-final win over Toulouse last weekend, made it five years in a row with his inclusion in the 2010/11 Dream Team - the only ever-present.
The Lions No 8 has been at the centre of one of the outstanding back rows in the to competition, helping Leinster reach the Magners League Play-Off semi-finals and the Heineken Cup final. He pipped Munster rival James Coughlan and Scarlets newcomer Ben Morgan to the No 8 slot, although clubmate Sean O'Brien was also in the mix.
The remarkably versatile O'Brien received votes in all three back row positions and polled twice as many votes overall as any of the other 20 players nominated for the three positions. In the end, O'Brien led the way for the blindside flanker's role, with Cardiff Blues rising star Sam Warburton taking the No 7 openside shirt.
Glasgow Warrior's highly rated Scottish international lock Richie Gray topped the way voting among the locks and has the Ospreys' skipper Alun Wyn Jones a packing down alongside him in a second row that has a Lions look for 2013.
Leinster's rising front row reputation is reflected in the selection of Irish tight head Mike Ross ahead of the choice for the past two seasons, Wales and Lions ace Adam Jones, at No 3 and Richardt Strauss at hooker.
The loose head spot goes to one of the most consistent performers over the history of the Magners League, the Scarlets' former Wales prop Iestyn Thomas. He heads a list that featured Wales prop Paul James as his nearest rival as he returned to the Dream Team for the first time since its inception in 2006/07.
Behind the scrum there are three more stand out selections alongside that of Visser. Leinster full back Nacewa picked up 16 votes, with three other candidates polling only one each.
Scarlets' Welsh centre Jonathan Davies picked up 14 votes for one of the two centre berths with his nearest rivals getting only five. Brian O'Driscoll, a Dream Team member for the two previous campaigns, was one of those two, but he was beaten on a second draw to the No 13 jersey by the Blues' Casey Laulala.
At scrum half, Ulster's regular match winner Ruan Pienaar was a runaway winner with 13 votes - 10 more than the man he replaced, Leinster's Isaac Boss - while his half-back partner is Munster's points machine Ronan O'Gara, who returns to the Dream Team after a season's absence.
MAGNERS LEAGUE DREAM TEAM 2011
FULL BACK - ISA NACEWA (LEINSTER)
RIGHT WING - FIONN CARR (CONNACHT)
OUTSIDE - CENTRE - CASEY LAULALA (CARDIFF BLUES)
INSIDE CENTRE - JONATHAN DAVIES (SCARLETS)
LEFT WING - TIM VISSER (EDINBURGH)
OUTSIDE HALF - RONAN O'GARA (MUNSTER)
SCRUM HALF - RUAN PIENAAR (ULSTER)
LOOSE HEAD PROP - IESTYN THOMAS (SCARLETS)
HOOKER - RICHARDT STRAUSS (LEINSTER)
TIGHT HEAD PROP - MIKE ROSS (LEINSTER)
LOCK - ALUN WYN JONES (OSPREYS)
LOCK - RICHIE GRAY (GLASGOW WARRIORS)
BLINDSIDE FLANKER - SEAN O'BRIEN (LEINSTER)
OPENSIDE FLANKER - SAM WARBURTON (CARDIFF BLUES)
N0 8 - JAMIE HEASLIP (LEINSTER)
Teams (9): Leinster 5, Blues 2, Scarlets 2, Ospreys 1, Connacht 1, Glasgow Warriors 1, Edinburgh 1, Munster 1, Ulster 1
MAGNERS LEAGUE DREAM TEAM 2010/11
Isa Nacewa (Leinster), Fionn Carr (Connacht), Casey Laulala (Cardiff Blues), Jonathan Davies (Scarlets), Ruan Pienaar (Ulster), Richardt Strauss (Leinster), Mike Ross (Leinster), Richie Gray (Glasgow Warriors), Sean O'Brien (Leinster), Sam Warburton (Cardiff Blues)
Tim Visser (Edinburgh), Jamie Heaslip (Leinster)
Ronan O'Gara (Munster - 08/09), Iestyn Thomas (Scarlets - 06/07), Alun Wyn Jones (Ospreys - 06/07, 08/09)