Both come in second place too, with Sheeran the second-biggest artist and Drake's Once Dance, with Kyla and WizKid, coming runner-up in the songs chart.
Sheeran released his first album, +, in 2011, and has gone on to rack up platinum sales and number one albums and singles, including Thinking Out Loud, Sing and Perfect, around the world.
Canadian hip-hop artist Drake's debut album Thank Me Later was released in 2010, and hit singles Hold On, We're Going Home; Started From The Bottom and Hotline Bling have cemented him as one of the most successful artists in the world.
Post Malone, Ariana Grande and Eminem also featured in Spotify's chart, but Grande was the only female artist to make the top five.
In the female artists' chart, Grande was followed by Rihanna, Taylor Swift, Sia and then Beyonce.
Spotify also revealed Post Malone as the world's most streamed artist of 2019, with Camila Cabello and Shawn Mendes topping the song chart with their duet, Senorita.
The streaming service also put out charts for songs and albums in 2019, with Billie Eilish, who released her debut album When We All Fall Asleep, Where Do We Go? earlier this year, appearing in all three, alongside Sheeran and Grande.
The teenage star's album topped the chart for most-streamed albums of 2019.
In the UK, Sheeran was named most-streamed artist for 2019, while Lewis Capaldi made it to the top spot for most-streamed album and most-streamed track, for Divinely Uninspired To A Hellish Extent and his chart-topping single, Someone You Loved.
Spotify now has more than 113 million subscribers and more than 248 million active monthly users, meaning more recent releases should fare better due to the platform's growth in the past 10 years.