Patel, 36, took 102 wickets in all formats for the Bears in 2016, which included 69 in the County Championship.
The New Zealander took four five-wicket hauls in the Championship, including two in one game against Surrey in July with career-best figures of 10-123.
He also took 22 wickets on the way to helping his side win the One-Day Cup.
The spinner, who has not played for his country since January 2013, has now earned a recall for the remainder of New Zealand's Test tour of India, following an injury to fellow off-spinner Mark Craig.
Patel who also weighed in with 298 Championship runs, has now taken more than 50 wickets in a season in four-day cricket for five straight seasons, but this season's tally of 69 is his best.

Lorna Waddell, 41, of Kelso, previously admitted obtaining nearly Â£4,000 by fraud while working for Provident Financial Management Services Ltd.
She was given unpaid work as an alternative to custody.
Jedburgh Sheriff Court was told she had breached her payback order. Sentence was deferred until 11 July for reports.
Waddell got five clients to sign loan applications, saying she would receive the capital and repay the loan instalments, in Kelso between February 2012 and February 2013.
However, after receiving the cash no payments were made.
She also admitted that while acting as an agent for the same company she embezzled nearly Â£700 at her home between November 2012 and March 2013.
Warwickshire off-spinner Jeetan Patel has won the Professional Cricketers' Association (PCA) Most Valuable Player award for a second time.
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A financial agent who took thousands of pounds by fraud has breached her community payback order by failing to carry out 180 hours unpaid work.