Wednesday, a group of linguists known as the Global Language Monitor gave the honor to the phrase "Web 2.0."
The phrase began as a technical term meaning the next generation of Web products and services.
The group says the phrase appeared more than 25,000 times across a wide geographic area, which is the benchmark before a word can be officially counted.
Critics say it is impossible to accurately count the number of words in a language, but the group defends its methods, saying they use a mathematic matrix to verify each new word.
The group says, on average, a new word is created about every 98 minutes.