The film will conclude the weekend with $1.03 billion (£808 million) in global ticket sales, according to a statement released on Sunday.
Greta Gerwig is the first woman to attain this milestone as a solo filmmaker.
It was dubbed a "watershed moment" by Warner Bros.
"No one but Greta Gerwig could have brought this cross-generational icon and her world to life in such a funny, emotional, and entertaining story... literally turning the entire world pink," said Jeff Goldstein, president of domestic distribution in the United States.
He said that lengthy lineups in theatres and repeat viewings "prove that movies are back" following the recession.
Other female filmmakers have worked with others to produce films that have grossed more than $1 billion. Jennifer Lee and Chris Buck co-directed the animated movie Frozen and its sequel, which grossed more than $1.4 billion at the box office.
Captain Marvel, starring Brie Larson and co-directed by Anna Boden and Ryan Fleck, grossed more over $1.1 billion.
The pink-hued picture has won critical acclaim and has prompted a slew of photos at doll boxes displayed in cinemas throughout the UK.
It has so far grossed $459 million in the United States and $572 million overseas, starring Margot Robbie as Barbie and Ryan Gosling as Ken.
Critics weigh in on the new Barbie film.
As sales of Barbie toys decline, the company plans to expand into the film industry.
Moviegoers have frequently coupled a screening of Barbie, which chronicles the famed doll's coming-of-age narrative, with Christopher Nolan's Oppenheimer, a drama about the building of the first atomic weapon.
Vue, a UK-based cinema chain, recently said that both films contributed to the company's biggest weekend in four years.
Ms Robbie also worked as a producer on Barbie. According to Collider, she expected to make a billion dollars in early meetings.
"I think I told them it'd make a billion dollars, which may have been exaggerated, but we had a movie to make, okay?" she told the outlet.
The film's marketing effort has been massive, with pink billboards built in cities all over the world, as well as a pink mascot.