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Max Verstappen led from pole position at the Autodromo Hermanos Rodriguez, taking the chequered flag 15.186 seconds clear of Mercedes's Lewis Hamilton.
Seven times world champion Lewis Hamilton finished second.
The 24-year-old Dutch driver took his 26th career win 0.9 of a second ahead of Spaniard Sainz, who closed the gap and set up a thrilling final chase thanks to a safety car deployment.
Seven-time world champion Lewis Hamilton and the FIA were in a standoff at this month's Miami Grand Prix over piercings the Mercedes driver has raced with for years and said he could not remove.
The sport's only Black driver, an outspoken champion for equal opportunities and diversity, Hamilton has also experienced racism and online abuse.
"I don't really fully understand the whole idea when people get married the woman loses her name," said the seven-time Formula One world champion.
Media reports have valued the new deal at 40-50 million euros ($44-$55 million) a year.
The Briton is being groomed to be their next world champion with Lewis Hamilton, 37, out of contract at the end of 2023.
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.
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