The 6ft 11ins (2.11m) Karlovic hammered 26 aces in his 7-6 (7/5), 7-6 (9/7) defeat, reaching a career total of 10,247 and surpassing compatriot Ivanisevic's 10,237 along the way.
The record was consolation for Karlovic after his defeat to 37th-ranked Cuevas, who is enjoying a dream run in Beijing after he beat world number five Tomas Berdych in the first round.
The thunderous serve of Karlovic, 36, also yielded 45 aces in this year's quarter-final victory over Berdych in Halle -- the most recorded in a three-set match.
In the women's draw, Bethanie Mattek-Sands upset US Open finalist Roberta Vinci 6-1, 3-6, 6-2 to reach the quarter-finals.
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