In 2005 they won Best Spanish Act at the MTV Europe Music Awards.

El Canto del Loco began in 1994 when Dani Martín was studying at the Cristina Rota school. There, he met Iván Ganchegui, a guitarist. The two's similar musical tastes resulted in the formation of the band. Although Ganchegui left the band the day before their first concert, David Otero, Martín's cousin David Otero stood in and eventually joined as the band's replacement guitarist.

Jandro Velazquez, the son of friends Martín's parents also replaced the band's original drummer and Chema Ruiz, a university friend of Otero's became the band's bass player.

The principal musical influences on El Canto del Loco are other groups, such as Radio Futura, Los Ronaldos, Los Rodríguez23 and Hombres G. The members of El Canto del Loco are well-known fans of Radio Futura, and they are good friends with Hombres G. Other groups, such as Alejo Stivel have also been influential, but to a lesser extent.

The members of the band recognise that, in addition to being influenced by the previously mentioned groups, some of the songs from their album Estados de ánimo do reflect the work of more current bands such as Estopa, La Cabra Mecánica, M-Clan, and the American group Green day.