According to the US Space Agency's Jet Propulsion Laboratory, the asteroid known as 2024 ON is 290 meters (950 feet) broad and is expected to approach Earth within 1 million kilometers.
Based on data from NASA, the space rock will return to Earth in 2035 after its most recent visit occurred in 2013.
The object was initially observed by NASA's Near-Earth Object (NEO) Observations Program, which employs global observatories to find unidentified NEOs.
The Virtual Telescope Project, which tracked the "possibly hazardous" asteroid on September 9th, caught it as it traveled about 40,000 kilometers per hour.
By 2024, Earth will have traveled 2.6 times the usual lunar distance, hence there is no risk to Earth on its current track. However, even a slight detour could have significant repercussions.
Despite being 99 percent larger than any previous near-Earth object due to its immense size, the asteroid will not pass close enough to be visible without a telescope.
Alternatively, observers will be treated to a rare partial lunar eclipse coinciding with a supermoon full Moon on the day of its closest approach to Earth.
In addition to regions of North and South America and Asia, the celestial show will be visible over all of Europe and Africa.
A smaller asteroid will be drawn into orbit around Earth for two months later in the month, turning it into a temporary "mini-moon."
According to a recent study published in the scientific journal Research Notes of the AAS, the 2024 PT5 asteroid, which was formerly a component of the Moon, is barely 10 meters broad.
The study predicts it will stay in Earth's orbit from September 29 until November 25.