The mountain-sized object has been classed as a "potentially hazardous asteroid" but scientists say there is no danger of a collision.More info over at BBC.
Asteroid 2004 XP14, as it is called, is expected to be visible through good amateur telescopes.
It is set to make its closest approach to Earth, above the west coast of North America, at 0444 GMT.
At this time it will be about 268,873 miles (432,709km) from the Earth, only 1.1 times the planet's distance from the Moon.
Asteroid makes a close approach
Posted on Monday, July 03 2006 @ 2:00 CEST by Thomas De Maesschalck
On Monday a giant asteroid will make a close approach: