Price, who won the American League Cy Young Award after going 20-5 with a league-best 2.56 ERA, edged out "MLB 2K12" cover athlete Justin Verlander for the honors.
The 2013 version marks the third consecutive reigning Cy Young Award winner to grace the cover of an MLB 2K game.
"It's a dream come true to appear on the cover of 'MLB 2K13,'" said Price in a statement. "I'm looking forward to working with the 2K Sports team again, and welcoming another skilled gamer into 'The Perfect Club.'"
The Perfect Game Challenge, 2K Sports' groundbreaking $1 million competition, will also be returning for a fourth consecutive year and introduce a new contest format with exciting ways to win. Since 2010, 2K Sports has awarded $3 million in prize money to players exhibiting the highest caliber of skill in throwing a perfect game in MLB 2K.
Last year's Perfect Game Challenge achieved record participation numbers, with nearly 1 million attempts made and more than 1,000 perfect games registered. The contest was won by 21-year-old Christopher Gilmore, who prevailed in an eight-person tournament at the MLB FanCave in New York City.
Complete details of this year's contest will be announced at a later date.
The game will go on sale March 5.
Bill Chastain is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.