Rodriguez became the first major leaguer to reach the milestone with a sacrifice fly in the sixth inning of New York's 4-3 loss to the Baltimore Orioles.
"It feels good," Rodriguez told reporters after breaking clear of a four-way tie with Ruth, Gehrig and Foxx, who had each achieved the feat in 13 seasons.
"You try to come out and be consistent every year, so it's nice."
Yankees manager Joe Girardi paid tribute to Rodriguez, who recently became the seventh player ever to hit 600 home runs.
"It's amazing, it's an amazing number," Girardi said of the RBI milestone. "It just shows you how consistent he has been, how healthy he has been in his career to be able to do something like that. It's a pretty amazing feat."
Rodriguez went into Monday's game with 98 RBIs but added one more with a solo home run in the fourth inning, the 605th homer of his career. He then set the mark with a sacrifice fly to right field in the sixth.
The New York Yankees third baseman ended the game with a total of 22 homers for 2010 and needs eight more to reach 30 in a single season for a 14th time, and 13th in a row.
Asked about keeping his homer streak alive, Rodriguez replied: "I just want to be productive and help the team win."
(Writing by Mark Lamport-Stokes in Los Angeles; Editing by Steve Ginsburg)