The 22-year-old soared 6.19 metres on his third attempt during a warm-up competition ahead of this month's World Athletics Indoor Championships.
Incredibly, the Swede began the event once all the other competitors had already been eliminated. The best of those was Slovenia's Robert Renner who managed a mere height of 5.31 metres.
Duplantis started with a 5.61 height and cleared it with his first attempt. The Olympic gold medallist also cleared 5.85 and 6.00 with ease.
The youngster immediately moved to 6.19 and despite two failed attempts, he nailed the final try to make history.
Speaking to World Athletics, he said: "It's been a long time coming. I've never had a height that has given me that much trouble, so it's a very good feeling. It was really hard fought over these past two years. I'm really happy."
Duplantis improved his previous world record - set in Glasgow back in February 2020 - by one centimetre.
The Swede also broke Frenchman Renaud Lavillenie's 6.16 metre world mark with a clearance of 6.17 just seven days before his infamous clearance in Glasgow.
Having already claimed the Olympic gold medal in Tokyo and the European Championships title in 2018, Duplantis will now be looking for back-to-back World titles.
His first target will be the indoor crown in Belgrade - which kicks off on March 18 - before challenging for the outdoor title in Eugene, Oregon in July.