It had been believed that there was a one-percent chance that the asteroid -- known as "2011 AG5" would hit our planet in February 2040.
But after observing the asteroid's future course, astronomers say that risk has been completely eliminated.
NASA says the asteroid will pass no closer than 553,000 miles from the Earth.
Scientists say a collision with the Earth would have released about 100 megatons of energy. That's several thousand times more powerful than the atomic bombs that ended World War Two.