It is the fifth movie based in Disney's Marvel Universe to hit the milestone.
The film stars Chadwick Boseman as the crime-fighting ruler of Wakanda, a fictional African nation with the most advanced technology on earth.
Oscar winner Lupita Nyong'o, Michael B Jordan and Daniel Kaluuya play key roles, with The Hobbit star Martin Freeman as CIA agent Everett Ross.
The film has been widely praised as game-changing - including by Michelle Obama - for having a largely black cast and a black director, Ryan Coogler.
Box office analyst Jeff Bock told the New York Times: "I think about it like a wall crumbling. In terms of Black Panther, no studio can say again, 'Oh, black movies don't travel, overseas interest will be minimal.'"
Congrats to the entire #blackpanther team! Because of you, young people will finally see superheroes that look like them on the big screen. I loved this movie and I know it will inspire people of all backgrounds to dig deep and find the courage to be heroes of their own stories.
Based on Disney's estimate of ticket sales, the film passed the $1bn mark on the 26th day of its release.
Film information site IMDB says 32 movies have scored a box office billion, including 2012 James Bond offering Skyfall, the 2017 Beauty and the Beast reboot starring Emma Watson, and modern children's classic Frozen.
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