Southee has been a mainstay in the New Zealand setup, amassing more than 200 test wickets in 57 matches.
Highlights of his previous season include bringing up his maiden one-day international half-century in India as well as a six-wicket bag against Pakistan in Hamilton.
Three new names appear on the list as Colin de Grandhomme, Jeet Raval and Neil Broom were rewarding for their performances for the Black Caps.
Of the players on the list from last season, Mark Craig and Doug Bracewell were not offered contracts. Luke Ronchi announced his retirement from international cricket so he is also an absentee.
Black Caps selector Gavin Larsen said Bracewell's absence from the list was influenced by the injury he sustained in December, cutting back his opportunities for game time and allowing others to overtake him.
"Doug is still viewed very positively by the selectors and has a big year in front of him in terms of bouncing back from his injury and proving his worth," said Larsen.
"It's been a difficult time for him since the knee injury but we're all hopeful he'll make a full and sustainable recovery."
A set criteria is used to rank players across all three forms of the game, with tests receiving twice the weighting of one-day internationals and Twenty20 internationals.
Domestic contracts will be offered in July.
Players offered central contracts for 2017-18: Corey Anderson, Trent Boult, Neil Broom, Colin de Grandhomme, Martin Guptill, Matt Henry, Tom Latham, Mitchell McClenaghan, Adam Milne, Colin Munro, Henry Nicholls, James Neesham, Jeet Raval, Mitchell Santner, Ish Sodhi, Tim Southee, Ross Taylor, Neil Wagner, BJ Watling, Kane Williamson, George Worker.