The title, which launched on September 17, sold 11.21 million copies and generated £511.8 million ($815.7 million) in its opening 24 hours of sale.
As a result, it has broken records for best-selling video game and highest revenue generated by an entertainment product in 24 hours.
It has also become the fastest videogame and overall entertainment property to gross $1 billion, which it managed in three days.
"GTA totally deserves to be recognised as an icon of modern British culture, and we're thrilled to be able to feature the game in the record books," said editor-in-chief Craig Glenday.
"Gaming is no longer a niche hobby, as GTA 5 has proved, and how exciting that it's taken on the might of Hollywood and won!"
GTA 4's lifetime UK sales in just three weeks, becoming the 12th best-selling game.
GTA Online was recently updated on Xbox 360 and PS3, resolving connection issues, but has since seen characters and progress become lost.
The list of Guinness World Records for GTA 5:
1. Best-selling action-adventure videogame in 24 hours
2. Best-selling videogame in 24 hours
3. Fastest entertainment property to gross $1 billion
4. Fastest videogame to gross $1 billion
5. Highest grossing videogame in 24 hours
6. Highest revenue generated by an entertainment product in 24 hours
7. Most viewed trailer for an action-adventure videogame
> Read Digital Spy's Grand Theft Auto 5 review
Watch a trailer for GTA Online: