Newly-released figures have revealed that the festive favorite will earn its creators over $633,000 in royalties by the end of this year.
However, the 1987 Christmas ballad, which also features the late singer Kirsty MacColl, is second on the royalties chart to Slade's "Merry Xmas Everybody," which rakes in almost $840,000 every Christmas.
The new figures were released by the Performing Right Society (PRS), which collects fees when songs are broadcast on the radio, TV and internet.
Mariah Carey's "All I want For Christmas Is You" is in third spot, while Wham's "Last Christmas" and veteran pop star Cliff Richard's "Mistletoe & Wine" take up fourth and fifth place.
Band Aid's 1984 smash-hit "Do They Know It's Christmas" is in sixth place, while the rest of the Top Ten is made up of Shakin' Stevens' "Merry Christmas Everyone," The Pretenders' "2000 Miles," East 17's "Stay Another Day" and "Stop The Cavalry," by Jona Lewie.