Bautista received one of the three outfield awards that are given to the best offensive players at their respective positions.
The Silver Slugger, which was first awarded in 1980, is voted on by coaches and managers from both leagues; voters are prohibited from rewarding players on their own team.
It's the second consecutive year that Bautista has won the award.
Bautista followed his breakout campaign of 2010 with an arguably even better performance this year. The native of the Dominican Republic hit .301 with 103 RBIs while posting a Major League-leading 43 home runs and 132 walks.
The 31-year-old also led the American League in slugging percentage (.608) and OPS (1.056) in 149 games.
The Silver Slugger Award hardly comes as a surprise for Bautista, who won the Hank Aaron Award last week, given in recognition of the top offensive player in each league.
It was the second straight year he won the Hank Aaron Award, and he remains one of the favorites for the AL Most Valuable Player Award, which will be announced later this month.
Bautista came out of nowhere in 2010 to set the franchise record for home runs in a season, with 54. He's the first player since Mark McGwire (1996 to 1999) to lead the Majors in homers for consecutive seasons, and his 132 walks are the most since Barry Bonds also drew 132 in 2007.