The 16-year-old pop sensation's video passed Lady Gaga's "Bad Romance" video to take the all-time lead.
More than 246 million have watched Bieber's video on the Google Inc.-owned website.
Bieber tweeted a thank you to "Beliebers" and said the video's success was "crazy." The singer wrote: "I started on youtube so ... WOW!" he also called Gag an incredible artist he has great respect for.
Bieber's video and Lady Gaga's switched positions briefly Friday, but as of late afternoon, Bieber was ahead by more than 600,000 views.
The most-watched clip on YouTube that isn't a music video is the popular "Charlie bit my finger" viral video, which more than 210 million have watched.
Gaga still dwarfs Bieber in terms of record sales, points out CBS News Correspondent Jeff Glor, with 10 million for her debut album, "The Fame."
Still, Glor observers, Beiber has tapped into a valuable medium.
Music journalist Alan Light says, "There are still fan bases in the millions. Even if there aren't record sales in the millions, there are still a lot of people who are interested in these acts."
Bieber now has a lucrative record deal of his own to go with those millions of devoted fans
And he's topping the music industry's newest to track its stars. "YouTube is an increasingly critical way to building your career," Light notes. … It's harder and harder to figure out a way to get your stuff in front of people."
Still, Glor cautions not to count out Lady Gaga just yet: Although she may be behind on YouTube views, she's breaking records on Facebook, with more than 10 million fans.