The Rolex Cosmograph Daytona reference 116520, introduced in 2000, is a 40 mm stainless steel chronograph with a screw-down crown and pushers and a water resistance of 100 metres. It is the first Daytona to use a Rolex-made movement, the automatic calibre 4130, which replaced the Zenith-based El Primero calibre used since 1988. The bezel is steel with an engraved tachymetre scale, and the dial was offered in black and white.

Calibre 4130 was designed with far fewer parts than most chronograph movements and a 72-hour power reserve, and it made the Daytona a modern, in-house watch. The 116520 stayed in production until 2016, with small changes in dial and case details over the years, which collectors distinguish by serial-number letters.

The 116520 is generally seen as the watch that made the modern Daytona a long-waiting-list icon, and it holds its value well. It was replaced in 2016 by the 116500LN with a Cerachrom bezel, so the 116520 is no longer produced.