The 24-year-old Dutch was rewarded on Thursday for beating Lewis Hamilton to win his first world championship last year, with another five years added on the contract that ran through 2023.
Max Verstappen, who won the F1 title in the last lap of the last race of the season in Abu Dhabi last Sunday, was officially presented with the champion's trophy.
Verstappen revealed his right leg was cramping in the crucial moment that saw him clinch victory.
After losing the protests, Mercedes filed for reconsideration to the International Court of Appeal.
Mercedes have protested "against the classification established at the end of the Competition", relating to alleged breaches of Articles 48.8 and 48.12 of the FIA Sporting Regulations
The F1 constructors cite breach of two regulations; Articles 48.8 and 48.12 of the FIA Sporting Regulations.
Red Bull driver Max Verstappen became Formula One World Champion for the first time defeating Mercedes rival Lewis Hamilton in a thrilling season finale race at Abu Dhabi Grand Prix on Sunday.
Hamilton attempted to bump him from the pole as the clock wound down on the final qualifying session of the season. But he was .371-seconds slower and will start second in his Mercedes next to his rival.
Hamilton’s nail-biting win at the Saudi Arabian Grand Prix on Sunday was his third straight to pull him level with Verstappen on 369.5 points.
Hamilton, who was fastest in both of Friday's practices, could also leave Saudi Arabia tied with Verstappen in the standings if the Mercedes driver wins Sunday and scores maximum points.
Verstappen still holds an eight-point lead with two races remaining in one of the most dramatic F1 title fights in at least a decade.
Hamilton won the 102nd pole of his career, fourth of the season and first since the Hungarian Grand Prix in August. Hamilton trails Verstappen by 14 points in the championship fight with three races remaining.
Hamilton, a seven-time world champion, beat Verstappen despite starting from 10th position on the grid due to a penalty — the second Hamilton faced this weekend in Sao Paulo.
The challenge will be holding off the hard-charging Red Bulls and Max Verstappen over 71 laps on Sunday.
The intensity of the tightest championship race in years might have derailed a different driver — especially when Hamilton pulled within 1 second on the final lap — but Verstappen thrived under pressure and won his eighth race of the season.
While Bottas won the Turkish GP, Verstappen returned to the top spot with a second-place finish.
Max Verstappen was handed a three-place grid penalty for the Russian GP in Sochi after the stewards judged he was to blame for causing a collision with Lewis Hamilton at Monza.
It was McLaren's first win in nearly nine years, since Jenson Button took the chequered flag in Brazil in 2012.
Bottas finished the 18-lap dash 2.325 seconds ahead of Verstappen but will start at the back of the grid on Sunday as he is going to take a new power unit and will receive a penalty for doing so.
Bottas’ final flying lap saw him beat Hamilton by .096 seconds in a qualifying session that set the grid for Formula One's second-ever sprint, which will determine the starting lineup for Sunday’s main race.
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