Saric was one of the two players to be a unanimous selection, joining Bucks guard Malcolm Brogdon.
The news was reported by Ben Golliver on Twitter.
Brogdon, the lowest pick to win the award (No. 36 in 2016) since 1957, averaged 10.2 points, 4.2 assists and 2.8 rebounds in 75 games (28 starts) for playoff qualifier Milwaukee.
As rare at is for a player who was selected outside the top-10 to be the victor of this award - Michael Carter-Williams, a man with Bucks and 76er connections is the only exception since Mark Jackson won in 1988 - Brogdon takes that even one step further.
Hield led all rookie in 3-pointers made (148), while Hernangomez led rookies in field goal percentage (52.9) and double-doubles (11). His assists (4.2) and steals (1.1) per game were tops among rookies while his 3-point and free-throw percentages ranked second.
The NBA All-Rookie First Team was announced today by the NBA. It's not an award for health, though, and the margin between Embiid's production and that of Brogdon - even with Milwaukee's more successful season - is far too great to warrant favoring the Bucks' youngster for an award that's based on production.
"I'm honored and humbled to be named the NBA's Most Improved Player and grateful to so many people for helping me reach this point in my young career", said Antetokounmpo. He worked on adding a three-point shot to his game and could become a real inside-outside threat down the line. "And you never cease to amaze us".
Saric averaged 12.8 points and 6.3 rebounds while appearing in 81 of 82 games. He is the first Bucks player to be on the All-Defensive team since Alvin Robertson in 1991.