Alvarez's first bout of the deal sees him step up to super-middleweight to face Rocky Fielding on 15 December.
It will offer fans a monthly subscription service to watch the fights rather than having to pay hefty pay-per-view fees.
One of the major factors behind Alvarez, who used to fight on HBO before they pulled out of boxing, signing with DAZN was being able to reach more fans.
Fresh off the biggest victory of his career, unified middleweight champion Canelo Alvarez is now in possession of the richest athlete contract in sports history.
The deal also dictates that Golden Boy put on ten "high-calibre" fight nights per year that will stream on DAZN from 2019.
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. "The most important thing is that fans can enjoy this fight at a very low price".
With HBO announcing it's quitting the business of broadcasting fights, Alvarez's management at Golden Boy Promotions opted to think outside the box when negotiating his next fight deal.
Lionel Messi, who earned $111 million past year, is likely to be his main competition for the highest-earning athlete title, but reports indicate that Alvarez could have earned upwards of $120 million for 2018 by the time of his debut fight with DAZN.
A subscription in the U.S. will cost $9.99 under the five-year term with Golden Boy, which will also oversee another ten fights that will stream on DAZN in 2019. "But I always want to take on challenges, and I am very happy my fans will be able to see me fight at a small cost".
"I've always liked a challenge, and this is yet another challenger in my career", said Canelo Alvarez.
Oscar De La Hoya's 7,000-hour library of fights spanning his career as a boxer and a promoter are included in the partnership and these classic bouts will be available on DAZN.
John Skipper, executive chairman of Perform Group, DAZN's parent company, had the following to say on the deal being made.
DAZN charges its subscribers $9.99 per month for a range of combat sports content.
Whilst Alvarez will still fight under the Golden Boy banner, his connection to DAZN could allow for fights with English fighters signed with Hearn.