The 30-year-old was also named Australia's one-day player of the year following a prolific 2016 during which he scored 2,420 international runs in all formats of the game.
He joined Ricky Ponting, Shane Watson and Michael Clarke as the only players to win Australian cricket's greatest individual honour in successive years.
"Thanks to my team mates and (Australia captain) Steve Smith – without you all I wouldn’t be here as it’s a team game," Warner said in a Cricket Australia statement.
"To the fans, we love the support you give, we love entertaining you and I think the game’s in a great state at the moment," he added.
"Thanks, too, to the past players as we wouldn’t be able to live the dream without what you did before us."
Fast bowler Mitchell Starc was named Australia's test player of 2016 and all-rounder Watson took the Twenty20 award in his final year of playing for his country.
(Reporting by Ed Osmond in London, editing by Alan Baldwin)
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