The animated Pixar film exceeded the 2015 original film, which made $US859 million ($A1.3 billion), by crossing the $US1 billion mark.
It took $US469 million ($A702 million) in North America and $US545.5 million ($A816 million) internationally.
It has also become the fastest animated movie to hit $US1 billion since Disney's 2019 blockbuster Frozen 2.
National Association of Theatre Owners president Michael O'Leary said the movie's popularity around the world showed cinema was still very much alive.
"The film's stunning global success once again illustrates that audiences the world over will respond to compelling, entertaining movies, and that they want to enjoy them on the big screen," he told Variety.
The flick made $US150 million ($A224 million) in its opening weekend while Frozen 2 earned $US135 million ($A202 million).
The film is set two years after Riley's (Kensington Tallman) move to San Francisco and follows the teen as she embarks on her high school journey.
It comes almost a year after the Margot Robbie and Ryan Gosling-headed blockbuster, based on the iconic Mattel dolls Barbie and Ken, dominated the box office, triumphing over Oppenheimer in the "Barbenheimer" battle.
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