Verlander, also the league MVP a year ago, followed that up by going 17-8 with a 2.64 ERA and pitching the Detroit Tigers to the World Series. He led the majors in strikeouts (239), innings (238 1-3) and complete games (six).
Price tossed 211 innings in 31 starts, while Verlander made 33. One factor that might have swung some votes, however: Price faced stiffer competition in the rugged AL East than Verlander did in the AL Central.
Weaver came in third with 70 points, but was listed second on a pair of ballots. The right-hander threw a no-hitter and had a 2.81 ERA in his first 20-win season but missed time with injuries and totaled only 188 2-3 innings for the Los Angeles Angels.
The top pick in the 2007 amateur draft out of Vanderbilt, Price reached the majors the following year and has made three straight All-Star teams.
Despite going 19-6 with a 2.72 ERA in 2010, he finished a distant second in Cy Young voting to Felix Hernandez, who won only 13 games for last-place Seattle but dominated most other statistical categories that year.
Verlander was trying to become the first AL pitcher to win back-to-back Cy Youngs since Boston's Pedro Martinez in 1999 and 2000. San Francisco right-hander Tim Lincecum did it in the National League in 2008-09.
Dickey drew 27 of 32 first-place votes and outdistanced 2011 winner Clayton Kershaw of the Los Angeles Dodgers. Gio Gonzalez of Washington finished third.