Domestically, the previous contract high for an athlete was the 13-year, $325 million dollar pact signed by Giancarlo Stanton with the Miami Marlins. He owns a 50-1-2 record - his only loss coming against undefeated Floyd Mayweather Jr.in September 2013 - and just defeated Gennady Golovkin last month in a battle featuring two of boxing's biggest superstars.
DAZN now have exclusive USA rights to Alvarez's next 11 fights after his contract with American broadcaster HBO - who are leaving boxing - expired.
Canelo's deal with DAZN, which runs through 2023, will begin with the middleweight world champion's bout against fellow world titlist Rocky Fielding on 15th December at Madison Square Garden.More news: Russell Wilson helps Seattle Seahawks see off Oakland Raiders
"This is only from my hard work", Alvarez told ESPN. "The most important thing to me was being able to give the fans the opportunity to see me fight without having to pay the US$70 or US$80 for my fights on pay-per-view".
The streaming service charges $9.99 (£7.60) a month rather than one-off, pay-per-view fees.
"Being part of this historic deal will require me to prepare myself even more and offer fans even better performances".
Overall, super, super stuff for boxing.More news: Pilots killed in jet crash during military excercise
"It is very important for me to give the fans the biggest fights and the most important fights, and I promise you I will always do that".
Alvarez and Britain's Fielding will hold a news conference in NY on Wednesday to promote their fight at Madison Square Garden.
The organization's boxers previously fought on HBO, which recently announced it would end boxing programming. I am moving up in weight and I don't know how my body will feel.
Anthony Joshua's defence of his IBF, WBO and WBA world heavyweight titles against Alexander Povetkin provided its first boxing event streamed in the U.S. in September. Golden Boy fights will participate in 10 matches per year on the platform.More news: Evidence indicates Khashoggi killed at Saudi consulate, Pompeo is in Ankara