Daddy Yankee has plenty of reason to celebrate…

The 37-year-old Puerto Rican reggaeton singer-songwriter’s “Limbo” has been named Song of the Year at the ASCAP Latin Music Awards.

The track, released as a Spanish-language song and bilingual track, peaked at number one on Billboard’s Latin Songs and Latin Pop Songs charts.

“Limbo” was written specially for Zumba Fitness to highlight the dance fitness company’s presence in the Latin music industry.

Daddy Yankee said he wanted “Limbo to invite the imagination, ignite creativity, to step away from the norm and bring something completely different.”

But that wasn’t the only prize Daddy Yankee picked up…

He also received ASCAP’s Voice of Music award. Looking visibly emotional, Daddy Yankee accepted his award and addressed the crowd in general and his fellow musicians in particular.

“It’s such an honor to be here. For me everything began as a young guy in Santurce, Puerto Rico in the 90s. I still have that passion in my heart,” he said.

Meanwhile, legendary musicians Fania All-Stars, this year’s Heritage award recipients, shared the stage with today’s stars in what became a true once-in-a-lifetime musical moment.

“I want to thank these boys for being with me so many years,” said 78-year-old Fania founder and bandleader Johnny Pacheco when accepting the award. “To me, this is the best salsa orchestra in existence.”

Colombian Andres Castro shared the Songwriter of the Year award with Romeo Santos (who was on tour but sent a video greeting).

Held in New York’s Hammerstein Ballroom, the awards celebrate the most-performed songs, publishers and composers of 2013, with Sony/ATV winning publisher of the year and Mayimba Music winning Independent Publisher of the year.