In winning Victory's highest individual honour, Valeri received 62 votes, seven ahead of James Troisi (55) in second place, with Marco Rojas third on 37 votes.
Victory Medal votes were independently cast on a 3-2-1 basis by head coach Kevin Muscat and assistant coach Jean-Paul de Marigny after each Hyundai A-League game, including the Finals Series.
Valeri played 27 times during the club's Hyundai A-League 2016/17 campaign, polling in 20 games and being awarded maximum votes on 11 occasions.
In other Hyundai A-League awards, Marco Rojas was voted the Players' Player of the Year and also took home the TCL UHD Android TV Goal of the Season for his stunner in Round 23 against Perth Glory, as voted by Victory members and fans.
Besart Berisha claimed the TAC Golden Boot after scoring a club-record 21 goals this season.
Cameron McGilp collected the Victory Youth Medal, while Pierce Waring claimed the Foxtel National Youth League TAC Golden Boot following his six-goal season.
In Westfield W-League awards, it was a clean sweep for striker Natasha Dowie, who won the Victory Women's Medal, TAC Golden Boot and Players' Player of the Year following an outstanding season in which she scored 9 goals in 12 matches.
Melbourne Victory 2016/17 Honour Roll
1. Carl Valeri (62 votes)
2. James Troisi (55)
3. Marco Rojas (37)
4. Alan Baro (34)
5. Besart Berisha (28)
Other Hyundai A-League awards
Players' Player of the Year – Marco Rojas
TCL UHD Android TV Goal of the Season – Marco Rojas (Round 23 v Perth Glory)
TAC Golden Boot – Besart Berisha (21 goals)
Foxtel National Youth League awards
Victory Youth Medal – Cameron McGilp
TAC Golden Boot – Pierce Waring (6 goals)
Westfield W-League awards
Victory Women's Medal – Natasha Dowie
Players' Player of the Year – Natasha Dowie
TAC Golden Boot – Natasha Dowie (9 goals)