The winning Powerball numbers for Wednesday night's drawing were: 7, 10, 11, 13, 24 and Powerball 24.
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The California Lottery said on Twitter that the winning ticket was sold in Los Angeles at Las Palmitas Mini Market.
Final ticket sales pushed the jackpot beyond its earlier estimate of $1 billion to $1.08 billion at the time of the drawing, moving it from the seventh largest to the sixth largest U.S lottery jackpot ever won.
The winner can choose either the total jackpot paid out in yearly increments or a $558.1 million, one-time lump sum before taxes.
The game's abysmal odds of 1 in 292.2 million are designed to build big prizes that draw more players. The largest Powerball jackpot was $2.04 billion Powerball in November.
The last time someone had won the Powerball jackpot was April 19 for a top prize of nearly $253 million. Since then, no one had won the grand prize.
Powerball is played in 45 states, as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands.
LOCAL BIG WINNERS
While they didn't win the jackpot, several people in our region still won big.
Someone in Pennsylvania hit five numbers and the Power Play, winning $2 million.
In New Jersey, two tickets matched just the five numbers, winning a $1 million prize.
We expect to find out later Thursday where exactly those tickets were sold.
The game now resets to $20 million.
You can also try your luck with Mega Millions on Friday night.
That jackpot is at $720 million.
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LOTTERY FEVER IN PHILLY AREA
Ahead of the drawing, lottery fever hit the Philadelphia area and people were excited at the chance to win.
"I would pay off all my debt, which is a mountain of debt, and go on vacation - a nice long vacation with my family," said Charlie Gorman, of Havertown, Pennsylvania.
Plenty of people have an idea of what they would do with the money if they had it.
"I would buy me some property down in Penn's Landing, that's my favorite spot to live, and probably a summer home in Myrtle Beach," said Brenda Marshall of South Philadelphia.
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"Give a lot to my kids, my grandkids, and just pay all my bills off, and take a vacation," said Rick Rosselli of South Philadelphia.
Many said if given the option, they would take the lump sum.
"The lump sum is just better, selling it to a whole bunch of people, rather than getting the monthly part," said John Patterson of Folsom, Pennsylvania.
"That's why I even got the Power Play, the Power Play we get more of it all at once, lump sum," said Charlie Gorman of Havertown.
"I may not be here tomorrow, so I want it all today," said Marshall.
The Associated Press contributed to this report.