The Two Towers took £8.6m in its first three days on release in the UK and Ireland, as well as the $62m (£38.8m) it took across North America between Friday and Sunday.
Harry Potter and The Chamber of Secrets held onto second place in cinemas in the British Isles, taking £1.2m in reciepts.
The boy wizard has amassed £46m in sales in just six weeks on release.
The latest James Bond film, Die Another Day, took £1.1m, with seasonal comedy Santa Clause 2 taking just over £1m.
Fifth in the chart, compiled by Screen International, was new entry Sweet Home Alabama, starring Reese Witherspoon as a New York fashion designer. It took nearly £800,000.
In North America The Two Towers has already taken well over $100m ($62.6m) - a 33% rise on the first week's takings of the first Lord of the Rings film.
The figures add extra shine to a successful debut for the film, made as part of a trilogy which cost $260m (£162m).
Last week it was nominated for two Golden Globe awards, including best dramatic film.
~RS~a~RS~International~RS~q~RS~~RS~z~RS~34~RS~)