The Puerto Rican hit song made the history on Wednesday after getting 4.6 billion streams on YouTube and Spotify, according to Universal Music Latin Entertainment.
Despacito, which means "slowly" in Spanish, was released in January in both its original form and a remix featuring Justin Bieber.
Reacting to the achieved milestone, Fonsi said: "Streaming is a connector for audiences worldwide and it has helped my music reach every corner of the planet," Fonsi said in a statement. "It is truly an honor that 'Despacito' is now the most streamed song in history."
Lucian Grainge, CEO of Universal Music, also said that "streaming has opened up the possibility of a song with a different beat, from a different culture, and in a different language to become a juggernaut of success around the world.'
The non-stop song which has been on a constant play around the world and occupying the top of the Spanish charts, is quite the accomplishment for a Spanish-language tune.
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