The 23-year-old has racked up more than 860 million streams on the service, beating Eminem and Coldplay, who came second and third respectively, reported BBC online.
His latest album, x, which hit the million sales mark in the UK this week, was played 430 million times.
Katy Perry was the year's most streamed female artist, with Ariana Grande second and Lana Del Rey third.
The 'Dark Horse' singer took the top spot from Rihanna, who held the position for the previous two years.
Spotify said that more than 50 million users listened to seven billion hours of music in the whole of 2014.
British act Clean Bandit were in second position for their song Rather Be while DJ Calvin Harris' came third, with Summer.