Red Bull claimed their sixth constructors’ title and second in a row by a staggering 860 points, more than double the points scored by their closest rivals Mercedes.
It was however a season of struggles for Perez, who while claiming two wins and securing his team their first ever 1-2 finish in the championship, he was outperformed considerably by Verstappen.
Nevertheless, the Mexican was retained by Red Bull for the 2024 season as the team look to build upon an incredible 2023.
The RB20 features a radical new design compared to its predecessor that is similar to the Mercedes-style concept that was scrapped by the team last season, but Perez has praised his team for ‘pushing the boundaries’ as they look to improve upon their success.
Speaking with ESPN UK, he said: “I think it's great to see everyone just pushing the boundaries, even with our concept this year.
“We've changed a lot and you see, you know that the team is really pushing, is really trying to improve every single time so they're looking forward massively.”
Perez is out of contract with Red Bull at the end of the season and will be under even more pressure than before to keep his seat beyond 2024.