Aged just 16 years and 161 days, the Ecuador midfielder netted his first international goal in the 2-1 win against Bolivia.
Paez raced through on goal before providing a composed low finish on the stroke of half time to give Ecuador the lead in La Paz.
His historic strike has even seen him eclipse South American legends and serial record breakers Diego Maradona and Lionel Messi.
Chelsea fans were given a glimpse into what could be a promising future link-up as Blues star Moises Caicedo provided the pinpoint pass for the young star to open his international account.
Paez currently plays for Ecuadorian side Independiente del Valle but has an agreement in place to join Chelsea in the summer of 2025, after he turns 18.
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The starlet will set Chelsea back around £17.5million, most of which will be add-ons.
Until his arrival at Stamford Bridge materialises, Paez will continue his development in his homeland.
The midfielder has already made a name for himself, completing a host of milestones despite his tender age.
On top of Thursday's accomplishment, the teenage star is already the youngest player to score in an Under-20 World Cup and the youngest to debut with the Ecuadorian national team.
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And he now holds the tag of being the youngest South American to play in a World Cup qualifier as well as the youngest goalscorer in his country's history.