Verlander finished the 2016 season with a 16-9 record and 3.04 ERA. He also led the American League with 254 strikeouts.
In a bounce-back season, Verlander re-established himself as one of baseball's best pitchers.
Earlier in the night, another former Tigers pitcher, Max Scherzer, became a two-time Cy Young winner, picking up his honor for his work with the Nationals. He won the 2013 AL Cy Young with the Tigers.