As of the 2008 season, that has occurred three times:
Cal Ripken Jr. - American League RoY in 1982 and American League MVP in 1983.
Ryan Howard - National League RoY in 2005 and National League MVP in 2006.
Dustin Pedroia - AL RoY in 2007 and AL MVP in 2008.
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Outfielder Fred Lynn of the Boston Red Sox in 1975 and outfielder Ichiro Suzuki of the Seattle Mariners in 2001.
Fred lynn
Ichiro Suzuki won both the Rookie of the Year, and the MVP Award in 2001.
Don Newcombe of the Brooklyn Dodgers won Rookie of the Year in 1949 and both the MVP and Cy Young awards in 1956.
Rookie of the year Most Valuable Player of the year Finals MVP Allstar Game MVP FIBA World Championship MVP
Frank Robinson was National League Rookie of the Year in 1956, American League Triple Crown winner in 1966, National League MVP in 1961 and American League MVP in 1966. I don't know of a second.