The South Korean popstar is projected to earn £5.03 million ($8.1 million) as a result of the track's international success, according to estimates reported by The AP.
Psy's income from YouTube advertising revenue linked to 'Gangnam Style' is believed to be around £540,670 ($870,000), and the singer and his management company are also entitled to a cut of income generated by parodies of the song.
However, the largest slice of his income is estimated to come from commercial deals. This figure is estimated by a South Korean securities analyst to be £2.86 million ($4.6 million).
'Gangnam Style' became the most-watched video on YouTube last month, passing the total set by Justin Bieber's 'Baby' on November 24.
It was recently reported that the track could be featured as an item number in forthcoming Bollywood movie Kick, starring Salman Khan.
Watch Psy's video for 'Gangnam Style' below: