Rizzo tied for the prestigious honor at first base with Atlanta's Freddie Freeman. He is only the third first baseman in team history to earn the award.
He won the award for the first time in 2016, when he was also the Platinum Glove Award winner for the entire National League.
Second baseman Javier Baez was also a finalist, but was beat out by DJ Lemahieu, who was once a Cubs prospect. Jason Heyward was also a contender to win his third consecutive Gold Glove Award following 2016 and 2017 honors, but the right field award instead went to the Braves' Nick Markakis.
Rizzo's win means the Cubs have now had a Gold Glove Award winner in each of the last three seasons, marking the longest run since its four-year stretch ended in 2007.