The online storefront, which now has more than 500 million active accounts, saw a record-breaking December where more than 2 billion apps were downloaded in that month alone.
"It has been an incredible year for the iOS developer community," said Eddy Cue, Apple's senior vice president of Internet Software and Services.
"Developers have made over seven billion dollars on the App Store, and we continue to invest in providing them with the best ecosystem so they can create the most innovative apps in the world."
There are now more than 775,000 apps available for iPhone, iPad and iPod, with 2012's most successful including the 75 million-selling Temple Run, freemium hits Dragon Vale and Clash of the Clans, as well as Uber, Flipboard, HotelTonight and AirBnB.
"We were simply looking to create a game that was fun and easy to play, but once it hit the App Store, the game took off. This past year, we saw more than 75 million downloads of Temple Run on iOS."
Apple revealed that it has now paid out more than seven billion dollars to app developers who have found success on the App Store.