The Serbian has now topped the ATP rankings for a combined 311 weeks, surpassing Federer’s tally of 310 on Monday.
Djokovic has enjoyed five different spells as the world’s best male tennis player, most recently wrestling top spot of Rafael Nadal in February 2020.
“It really excites me to walk the path of legends and giants of this sport,” Djokovic said per the ATP Tour.
“To know that I have earned my place among them by following my childhood dream is a beautiful confirmation that when you do things out of love and passion, everything is possible.”
The 33-year-old first topped the rankings back in July 2011 and has gone on to establish himself as one of the best players in tennis history.
After winning the Australian Open in February, Djokovic now has 18 grand slam titles to his name, just two less than Federer and Nadal.
“Novak’s many achievements in tennis are nothing short of extraordinary,” said ATP Chairman Andrea Gaudenzi. “Among them this record may stand as his single most impressive.”
“Reaching No. 1 is something many players dream of and very few ever accomplish, and to have held the top spot for longer than anyone is testament to the levels of sustained excellence that Novak has redefined in our sport.”
Djokovic gave a somewhat muted reaction to the record-breaking news on social media, writing on Twitter: “Big day today.”
Speaking after his Australian Open victory, Djokovic said he will now direct his efforts solely on winning more grand slams as he hunts Federer and Nadal’s all-time men’s record.
However Federer, 39, insists his career is far from over after enduring a long injury lay off over the last year.
He hasn’t played in a competitive match since losing to Djokovic in last year’s Australian Open semifinals but it set to return to action in Qatar this week.
Whilst his expectations remain low for his first match in over a year, Federer has his eyes set on full fitness at Wimbledon in June.
“I might surprise myself, but then actually I already [have] done in practice the last few weeks,” he told reporters.
“I was surprised at actually how well it did go. But like we know, matches are a different animal.”