The achievement caps a record-breaking season in which he claimed 73 home runs.

The 37-year-old outfielder hit .328 with 137 runs batted in for the San Francisco Giants.

He received 30 of 32 first-place ballots and 438 points in voting announced on Monday by the Baseball Writers' Association of America.

Chicago Cubs outfielder Sammy Sosa got the other two first-place votes and finished second with 278 points.

Sosa was followed by Arizona outfielder Luis Gonzalez (261) and St Louis infielder-outfielder Albert Pujols (222).

Pujols became the first National League rookie to finish as high as fourth since pitcher Joe Black was third in 1952.

Bonds, who became a free agent after the World Series, also won the MVP award for Pittsburgh in 1990 and 1992 and for the Giants in 1993.

He finished second to Atlanta's Terry Pendleton in 1991 and to San Francisco's Jeff Kent last year.

Bonds broke two of Babe Ruth's records last season, walking 177 times - seven more than Ruth's total in 1923.

And he finished with an .863 slugging percentage, 16 points higher than Ruth's percentage in 1920.

Home run record

Bonds has 567 career homers, seventh on the career list.

He also broke the season home run of 70 set three years ago by Mark McGwire.

It is not yet clear how much of an effort the Giants will make to retain Bonds, who has failed to lead them to the World Series.

The last reigning MVP to change teams was Bonds, who left Pittsburgh in 1992 to sign with San Francisco.

Pujols had the highest finish by a rookie in either league since 1975, when Fred Lynn was voted the AL MVP and Boston team-mate Jim Rice finished third.

The only other rookie to finish higher than Pujols was Boston Braves short-stop Alvin Dark, third in 1948.

Bonds gets a $100,000 bonus for winning the award, while Sosa receives $100,000 for finishing second.