The Dutchman led from pole position at the Autodromo Hermanos Rodriguez to take the chequered flag, ahead of Mercedes' Lewis Hamilton (37), with Red Bull's Sergio Perez (32) third in front of his home crowd.
Verstappen's win, a comfortable 15.186 seconds ahead of Hamilton, was his fourth in Mexico and the podium was the same as last year.
It was also a ninth win in a row and 16th from 20 races for Red Bull, who wrapped up the constructors' title in Texas last weekend. Verstappen retained his drivers' title in Japan on October 9th.
George Russell (24) finished fourth for Mercedes, but clocked the fastest lap.
Daniel Ricciardo (33) was seventh for McLaren, after a mid-race collision with Yuki Tsunoda (22) for which he was given a 10-second time penalty, ahead of Esteban Ocon (26) and Lando Norris (22) in the second McLaren.
