Siakam is joined on the second team by Damian Lillard, Kawhi Leonard, Nikola Jokic and Chris Paul.
The first team includes LeBron James, Giannis Antetokounmpo, Luka Doncic, Anthony Davis and James Harden, while the third team features Ben Simmons, Jayson Tatum, Jimmy Butler, Rudy Gobert and Russell Westbrook.
Siakam, 26, averaged career-highs with 22.9 points, 7.3 rebounds and 3.5 assists this season. His 22.9 points was the 17th highest scoring rate in the NBA.
By being named to the second All-NBA team, Siakam’s new contract extension that begins next season will be worth a little bit more. The extension carries a base value of $130 million over four years which is 25 per cent of the current salary cap. Now, his contract will be worth 28 per cent of the cap, which adds up to $146 million over four years based on the 2019-20 season number.
He is just the sixth Raptors player to be named to an All-NBA team, joining Vince Carter (twice), Chris Bosh, Kyle Lowry, DeMar DeRozan (twice) and Leonard.
Voting was conducted before the NBA restart by a panel of 100 sportswriters and broadcasters. Siakam received one vote for the first team, 36 votes for the second team and 55 votes for the third team. Lowry was the only other Raptors player to appear on any ballots this year, picking up three second-team votes and 17 for the third team.