Harry Kane netted another hat-trick as he set a new record for the most Premier League goals in a calendar year during Tottenham's 5-2 win at home to Southampton.
Shearer managed his 36 goals in 42 games while playing for Blackburn in 1995, while Kane, who has missed only four league matches this year, needed just 36 appearances to go one better.
Kane's impressive haul of 39 goals includes six top-flight hat-tricks and he was quickly congratulated by the man whose record he took.
Kane is now odds-on to win the Premier League golden boot for the 2017/18 season, his odds having been cut into 4/7. He had been 15/8 prior to his Burnley treble.
Kane now has 18 goals, three more than Mohamed Salah (11/2), who sits second in the race. Sergio Aguero (11/2) and Raheem Sterling (22/1) follow with 12 each.
Kane said it was a "great feeling" to break the record.
The striker told BT Sport: "It was hard not to think about it going into the game being level.
"As always I wanted to win the game first and foremost but of course I wanted to score as a striker. To get that goal early on and get that record was a great feeling and I could enjoy the rest of the game.
"This year I would say physically I have improved, recovery from games, getting ready, we have such a busy schedule. Just making sure I'm ready for each game, eating right, recovering right with ice baths. I feel really good. I feel sharp and at my best.
"Just getting more experience should make me a better player anyway."
On the part played by his Spurs team-mates, Kane added: "When we are in that form and we've got everyone running forward and quick passes, one-twos, we are a hard team to stop.
"I said to the lads before the game to try and set me up and they all did that so I'll have to take them out to dinner or something."
When asked for his favourite goals of the year, Kane said: "I liked the second one against Huddersfield from outside the box with the left foot, that was nice.
"That third goal today was good, the third goal against Burnley I think summed up how I play with the tackle and then the touch and finish so there's been some good goals but hopefully some better ones in 2018."
Harry Kane's 2017 in the Premier League
- Harry Kane has scored 39 goals in 36 league appearances. Shearer played 42 in 1995 when he set the record.
- The Spurs forward scored 21 goals in the 2017 portion of last season and has 18 this term - ominously for the rest of the Premier League, that is twice as many as his eight by the turn of the year last season.
- Kane's hat-trick against Southampton was his sixth of the year. He struck three times in games against West Brom, Stoke and Hull last season, four against Leicester in May and a treble at Burnley last Saturday.
- 37 of Kane's 39 goals have come in Tottenham wins, the only exceptions coming in last month's 1-1 draw with West Brom and 2-1 loss to Leicester.
- He has scored 20 times in home games and 19 away.
- May and December were his highest-scoring months with eight goals in each. In May he scored one in victory over Manchester United before firing four against Leicester and three against Hull. This month he struck twice against Stoke before his back-to-back hat-tricks.