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Red Bull made a one-two while Fernando Alonso also finished on the podium.
Max Verstappen led from pole position at the Autodromo Hermanos Rodriguez, taking the chequered flag 15.186 seconds clear of Mercedes's Lewis Hamilton.
The outcome meant Red Bull's titles were safe. The team have won the 2021 and 2022 drivers' championships with Max Verstappen as well as this year's constructors' crown, their first since 2013.
The title, clinched with three races to spare, ended an eight-year streak by Mercedes who have yet to win a race this season.
The Dutchman's closest rival Charles Leclerc was handed a five-second post-race penalty in the Japanese GP.
The victory was the Dutch driver's third of the season, and second in a row, and he made it happen with a crucial overtake around the outside on Sainz at the start to seize second place before blasting past Leclerc on the ninth of the 57 laps.
Media reports have valued the new deal at 40-50 million euros ($44-$55 million) a year.
Lewis Hamilton, beaten this year on the last lap of the last race, did not attend the event at the Louvre museum in Paris.
Red Bull rival Max Verstappen ended the Briton's quest for an unprecedented eighth F1 title with a safety-car aided, last-lap pass for championship glory at the season-ending Abu Dhabi GP.
Verstappen passed title rival Lewis Hamilton on the last lap. After a record 22 races, Verstappen had 395.5 points to Hamilton's 387.5.