Fearless Tiger Brewer was strapped to the wings of his grandfather's biplane and reached speeds of 100mph at 1,000ft.
He claimed the world record from the previous holder - Pink Floyd drummer Nick Mason's son, Guy, who held the record after wing-walking aged 11 in 2001.
Standing tall: Eight-year-old Tiger Brewer wing-walks on his grandfather's biplane and into the record books
Speaking after the five-minute flight, he said: 'It was quite scary but once I was up there it was really really good.
'The view was amazing, everything looked so small I could see everyone below but couldn't make out who was who.
'I want to do it again now. It really was amazing. The only thing that hurt was the windburn, but apart from that I loved it.'
Tiger Brewer flies his own model plane as he waits to wingwalk
The trip was arranged by Tiger's grandfather Vic Norman, who owns the only formation wing-walking team in the world, Team Guinot.
He also piloted the plane during the record-breaking flight.
Tiger was strapped on top the wings of a Boeing Spearman biplane and took to the skies from RFC Rendcomb Airfield near Cirencester, at 11am.
He was watched by proud dad Colin, 42, a television director, mum Zoe, 39, an interior designer, and five-year-old sister Flame.
Colin, of Willesden, north London, said: 'I am so proud of Tiger I can't believe he has done it.
'This time last year he wouldn't even attempt a big water slide and now he has been on top of an aeroplane. I am so pleased.
'He was absolutely fantastic but there was no pressure. We said to him earlier that he didn't have to go through with it if he didn't want to, but he was determined.
'It was amazing to see him on top of the plane, he was a bit nervous but it has been a great personal achievement.'
Flying free: Tiger is now the youngest wingwalker in the world
Proud grandfather Vic, 61, said it was fantastic to take one of his seven grandchildren up in the air.
He said: 'He looked slightly nervous at first but he soon relaxed and looked like he was really enjoying it.
'We had a code to let me know if he wanted to go down but he didn't use it.
'I am really really proud to have taken him up and I am so pleased he now has the world record for the youngest wing-walker.
'It's something he can carry with him for the rest of his life. I am sure I will take him up again.
'He shares my passion for flying and it will be a very special experience for us both.'