He edged out Australian World Cup-winning captain Steve Waugh and and South African Lance Klusener for player of the season, due to his consistency over the year.
The 30-year-old also beat Surrey and Pakistan spinner Saqlain Mushtaq and Sri Lanka's bowling wizard Muttiah Muralitharan for the bowling accolade.
"This is the icing on the cake after a good season. I don't expect awards, so it's a bit of a buzz when it happens," said Caddick.
Upcoming England fast bowler Alex Tudor won the performance of the season for his inspiring and unbeaten 99 in the first Test against New Zealand at Edgbaston.
Meanwhile, Channel 4's coverage of cricket has won high praise in a Wisden Cricket Monthly poll, which found that 54% of those who responded to the questionnaire preferred the commercial channel's coverage to that of BBC One.
Only 13% said the BBC was better, while 17% thought there had been little change.
Cricket commentator of the season went to former BBC presenter, now with Channel 4, Richie Benaud. BBC Radio's Jonathan Agnew was second.
Plucky England hang around
Saqlain stars in Aussie collapse
Solanki breathes life into draw
Headley on the mend
Black player drafted for England match
Worcester keep faith with McGrath
England 'A' battle on
ECB war against racism
New Zealand series 'rigged' - claim
England crank up the pace
Butcher beefs up England total
England 'A' ease to victory
Cricket ticket plan for ethnic minorities
Aussie win welcomes Waugh junior
Caddick takes double honour
Gough returns for tour game
Butcher facing chop
England scramble to a draw
Indians make world record stand
Cricket legend Malcolm Marshall dies
Malcolm Marshall: Scourge of batsmen
At a glance: Marshall tributes
An energetic enthusiast for cricket
Mashud denies England A