Paredes was honoured Thursday night at the CFL's awards banquet.
Marc Beswick of the Hamilton Tiger-Cats was the other finalist in voting by the Football Reporters of Canada and eight CFL head coaches.
Paredes was brilliant in 2013, leading the league in scoring with 213 points while making 54-of-57 field goals (league-record 94.7 per cent). The Venezuela native, who grew up in Pierrefonds, Que., also hit a league-record 39 straight field goals this year.
The six-foot-one, 198-pound Beswick posted a league-leading 24 special-teams tackles and was an East Division all-star this year. The 30-year-old Vancouver native has led Hamilton in special-teams tackles the last four seasons.