Super hero epic becomes first Marvel Studios film to reach major milestone.
Marvel's The Avengers was expected to cross the $1 billion threshold at the global box office this weekend - on just its 19th day of release.
The Avengers will be the first Marvel Studios film and the fifth Walt Disney Studios release to reach the milestone.
The news comes just a week after the movie broke records with a $207.4 million opening weekend, the biggest US debut of all time.
The Avengers has now earned an estimated $373.2 million at the domestic box office and $628.9 million internationally.
"We're obviously thrilled with the global success of The Avengers," said Robert Iger, Disney's chairman and CEO. "It's a fantastic movie and an extraordinary franchise that will continue with more great stories and compelling characters for years to come."
The film has now opened in all major markets except Japan (August 17th).
Last week, Disney announced that a sequel was in development. A follow up to Captain America: The First Avenger will be released on April 4th 2014; a sequel to Thor is scheduled for November 15th 2013; and a third instalment in the Iron Man franchise arrives on May 3rd 2013.