Alvarez has won world titles at middleweight and light middleweight in his career and has recorded victories over the likes of Golovkin, Amir Khan, Miguel Cotto, Erislandy Lara and Shane Mosley.
The streaming service charges $9.99 (£7.60) a month rather than one-off, pay-per-view fees.
"We are thrilled to be exclusive partners with Golden Boy Promotions and Oscar De La Hoya", John Skipper, executive chairman of Perform Group, DAZN's parent company, told ESPN of this new deal with Canelo. That fight, like most of boxing's biggest, was shown on pay-per-view.
"It's very important for me to give the fans the biggest fights and the most important fights, and I promise you I will always do that". De La Hoya told ESPN that in addition to Alvarez, Golden Boy signed an undisclosed deal to promote 10 cards annually on DAZN beginning in 2019.
The 28-year-old is set to fight Britain's Rocky Fielding on December 15 but he still has eyes on putting right that loss, the only one in 53 career fights.
"It is a good factor in some ways - but I know he is an all-around complete fighter".
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No doubt, he has helped the Chelsea team to record the success they now enjoy this season. You have to get the fruits of your labour".
He is the most high-profile fighter to sign with the platform, after Eddie Hearn and Matchroom Boxing agreed a $1bn deal earlier in the summer.
"I always want to take on challenges, and I am very happy my fans will be able to see me fight for a small cost".
Canelo's move to DAZN occurs at an uncertain, transitionary time for the sport of boxing.
The Perform-owned streaming services signed an eight-year deal with United Kingdom promoter Eddie Hearn earlier this year worth $1bn. Joshua fought on the platform's debut card following its USA launch when he defended his trio of world titles by stopping Alexander Povetkin in London on September 22.
Canelo, who recently beat the previously undefeated Gennady Golovkin in a highly anticipated rematch to become the unified WBA and WBC middleweight champion, is widely considered to be one of boxing's biggest stars, and joins a line-up on DAZN which includes world heavyweight champion Anthony Joshua. DAZN also features Bellator MMA, the World Boxing Super Series and Combate Americas on its platform. Now he'll step up to 168 pounds to challenge Fielding (27-1, 15 KOs) and seek to become a three-division world champion. Fielding was knocked out in the first round when they met in Liverpool in 2015.