Asteroid 2018 CB is estimated to be between 15 to 40m long and will fly close to Earth at 5.30pm EST (10.30pm GMT) on Friday.
It will pass within 39,000 miles (63,000 km) of Earth, which is less than one-fifth of the distance of the moon.
The giant rock was only spotted by NASA last Sunday and experts predict it is larger than the celestial object which exploded over Chelyabinsk, Russia in 2013.
An object measuring roughly 17m in diameter exploded above the town while hurtling through Earth’s atmosphere, shattering glass and causing hundreds of injuries.
Asteroid 2018 CB was discovered by the NASA-funded Catalina Sky Survery (CSS) on February 4.
A smaller asteroid – 2018 CC – approached close to Earth on Tuesday at 3.10pm EST (8.10pm GMT) at a distance of about 114,000 miles (184,000 kilometres) – roughly the hallway point between Earth and the moon.
Paul Chodas, manager of NASA’s Near-Earth Object Studies, said: “Although 2018 CB is quite small, it might well be larger than the asteroid that entered the atmosphere over Chelyabinsk, Russia, almost exactly five years ago, in 2013.
“Asteroids of this size do not often approach this close to our planet – maybe only once or twice a year.”
How can you watch the Asteroid 2018 CB live stream?
The Virtual Telescope Project will be hosting a live stream from Italy, starting at 8pm GMT.
The advanced robotic facility said: “The observatory is placed at 1300 metres above the sea level, in the Sonoran desert, providing one of the best skies in the world.”
Viewers can watch the live stream using the video link at the top of this article.
This latest asteroid comes just days after an asteroid which passed Earth on Super Bowl Sunday (February 4).
Asteroid 2002 AJ129 came by the planet at a distance of only 2.6 million miles (4.2 million km) – 10 times the distance of the moon – a far greater distance than the asteroid skimming past earth tonight.