It was released on October 28, 2016, via Sony Music Latin as the second single from Shakira's eleventh studio album, El Dorado (2017).

The song is Maluma and Shakira's second collaboration, after the two were featured on a remix of Carlos Vives' single "La Bicicleta".

[2] The track is also certified Platinum or higher in ten countries, including Diamond in Argentina, Brazil (three times), Colombia, France, Mexico and United States (Latin).

[3] Puerto Rican composer and recording artist Kenai had the word "Chantaje" in his mind months before the idea of a collaboration with Shakira and Maluma emerged.

They were supposed to offer three different demos to Shakira and Maluma, but ended up working on just one feeling confident enough about its potential.

The Rudeboyz traveled without Kenai the next day to Barcelona, Spain to meet with Shakira and Maluma to keep working on the song together.

The pairing was possible due to Sony Music Latin, who proposed the idea for both artists working together again after the remix of "La Bicicleta".

"[8] Before releasing the song, Shakira shared clues on her Instagram account on 25 October 2016, and if someone solved the mystery, they would get a personal message from the singer confirming the correct answer.

[15] Lyrically, the song is a chase "between a lustful man and an unattainable woman,"[16] where "he’s not sure where he stands with her, and she's not exactly clearing things up.

"[15] "Yo soy masoquista" ("I'm a masochist"), he says, and she responds, "Con mi cuerpo, un egoísta" ("With my body, [you're] a selfish [man]"); later, she reassures him: "Te dicen [...] que en esta relación, soy yo la que manda [...] esa mala propaganda" ("They say that... in this relationship, I’m in command... that's just evil propaganda").

[16] Jon Pareles of The New York Times was positive, noting that "Shakira gets even more intense when she sings in Spanish, nervier and more committed," and calling the song "a sparse, insinuatingly catchy reggaetón battle of the sexes.

"[13] Mike Wass of Idolator opined that the song "is instantly hummable regardless of your Spanish language skills and will have you moving before the end of the first verse.

"[19] Lucas Villa of AXS said that the song "plays to Shakira's strengths as a global seductress with a banger that's ready to make club-goers bend to its will.

[35] In the beginning of the music video, as described by Rolling Stone's Sarah Grant, "Shakira strolls through a bodega with her pet pig on a leash and her wild mane of hair hidden under a pink wig.

[39][40] To date, Shakira and Maluma have not yet performed Chantaje together; other than appearing in the music video itself, there are several behind-the-scenes recording studio clips on YouTube.

Shakira performed Chantaje with Coldplay's lead vocalist Chris Martin at Global Citizen Festival Hamburg, on 6 July 2017.