Psy's "Gangnam Style" ranks 12th on Billboard’s 100 greatest music videos of the 21st century.
Lady Gaga topped the list, followed by Missy Eliot, D'Angelo, Beyonce, OutKast, Rihanna & Calvin Harris and Britney Spears.
Psy was the highest-ranked Asian star.
"It's hard to believe that it's been over half a decade since the satirical dance track 'Gangnam Style' took the world by storm to become the first-ever video to be viewed over 1 billion times," Billboard wrote.
"Psy's video became a surprise global sensation that turned all eyes to [Korea's] music industry. Though it's no longer the world's most-viewed video, the legacy of 'Gangnam Style' remains."
In 2012, "Gangnam Style" held second place on the Billboard Hot 100 for seven weeks, a milestone in the history of K-pop. The video has reached 3.1 billion views.
Psy is now on a nationwide tour.
"Gangnam Style" is no longer the most viewed video on YouTube as of Tuesday.
The top spot was relinquished after a 1,691 day reign which began in November 2012.
"See You Again" from the original sound track of the 2015 action film "Furious 7" is now at the top with 2.89 billion hits, two million views more than "Gangnam Style."
The newly crowned video is a tribute to actor Paul Walker who passed away in a car accident.
However, its reign is likely to be short-lived, as Luis Fonsi's music video "Despacito" has been viewed over 2.4 billion times in just six months and is fast approaching the helm.