The fourth instalment of the adventure films, starring Johnny Depp, Geoffrey Rush, Penelope Cruz and Ian McShane, has currently made approximately $1.009bn (£626m).
An estimated $234.2m (£145m) has come from domestic sales at the US box office, with an extra $774.7m (£480m) earned internationally, according to Box Office Mojo.
On Stranger Tides is also the second Pirates of the Caribbean movie to reach the landmark total after Dead Man's Chest, which finished with a total of $1.066bn (£661m).
Including Alice in Wonderland and Toy Story 3, On Stranger Tides is the fourth Disney picture to have grossed $1bn.
Titanic, Avatar, Lord of the Rings: Return of the King and The Dark Knight are the other four billion-dollar films. Avatar remains the highest grosser with $2.782bn (£1.727bn).
Disney is reportedly planning for Pirates of the Caribbean 5, with a script already drafted.
Watch Geoffrey Rush's recent interview with Digital Spy below: