The video game, which went on sale in November last year, made an estimated $550 million in its first five days. It has now sold around 15 million copies, making it one of the best-selling video games of all time.
It has surpassed the 14.4 million units of Call of Duty: Modern Warfare sold in 2007, previously the bestselling title in the hugely popular six-year-old Call of Duty military shooter series.
It also joins the ranks of other $1 billion titles such as Guitar Hero III and World of Warcraft, also owned by publisher Activision. The figure also puts it alongside other entertainment franchises such as Avatar, the recent 3D science fiction blockbuster, which has become only the fifth film ever to gross more than $1 billion worldwide.
Ahead of it are Titanic ($1.8 billion; £1.1 billion), The Lord of the Rings: The Return of the King ($1.12 billion; £695 million) and Pirates of the Caribbean: Dead Man’s Chest ($1.07 billion; £664 million).
Call of Duty: Modern Warfare 2 is also the best-selling videogame of 2009 in the UK, according to industry body Elspa.