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Scientists also believe that this break up of Antarctic ice represents further evidence of global warming.
The iceberg measures about 50 miles by 17 miles and is curently about 300 miles from the southern tip of South America - closing in on major shipping lanes.
The hazard, known as B-10A, is being monitored to see if it will follow a route to the Pacific or the Atlantic ocean.
It is the largest of two icebergs that broke off from a much larger block in 1992.
Scientists say the detachment of ice is a warning that precautions must be taken against global warming.
A spokesman for Chile's Antartic Scientific Institute, Daniel Torres Navarro, said global warming was no doubt contributing "to the disintegration of the ice".
"We're not being alarmist - these are symptoms the environment is displaying to tell us something is happening here," he said.
The iceberg is on an erratic course, travelling at speeds of between eight and10 miles a day.
Chile's Navy has been tracking the ice mass through frequent flights over the ocean, since they fear it will collide with the Argentinian island of Tierra del Fuego.
Antarctic ice crumbling rapidly
(08 Apr 99 | Sci/Tech)
Greenland ice warning
(02 Oct 99 | Sci/Tech)
UK discovers giant iceberg
(13 Oct 98 | Sci/Tech)
Virtual Antarctica
British Antarctic Survey
Terraweb satellite images of Antarctica
US Government National Ice Centre
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