That effort topped the mark previously set in June 2015 when five-times Olympic champion and Tour de France winner Wiggins completed a distance of 54.526 km at London's Lee Valley VeloPark.
"I am happy I broke the magic mark of 55 kilometres," said Lotto-Soudal rider Campenaerts.
"It was super hard, I was a bit optimistic in the first 30 minutes and then I said myself I had to slow down a bit the pace, but even with that I think I was faster than Wiggins in all parts.
"The team gave me all the confidence I needed and I was able to answer them the right way."
The Bicentenario velodrome in Aguascalientes sits at an altitude of 1,800m and has hosted several track-record bids.
To prepare, Campenaerts spent two months in Namibia for altitude training, took part in the Tirreno-Adriatico -- his only early-season race -- before flying to Mexico at the end of March to acclimatise himself and complete his preparations.
"We've seen a superb performance," said UCI President David Lappartient. "Well done to Victor, who had an amazing ride and showed his consistency from the start right through to the end of his attempt, a key factor in his success."
(Reporting by Frank Pingue in Toronto; Editing by Toby Davis)
