It becomes the most expensive 20th-century artwork sold at a public auction and the most expensive artwork by a US artist ever sold at auction.
The work called "Shot Sage Blue Marilyn" was painted in 1964, two years after the actor’s untimely death.
It sold in four minutes at Christie’s headquarters in Manhatten, New York.
"We did sell the most expensive painting of the 20th century. I'm very proud of that,” Alex Rotter, Chairman of Christie's 20th and 21st-century art department told The Associated Press. “This is a big achievement that is not on me, but just on Warhol and Marilyn … Let it sink in, it's quite something."
Christie's said an unnamed buyer made the purchase.
The profits of the monumental sale will go to the Thomas and Doris Ammann Foundation Zurich, which put the painting up for auction. The foundation helps children with health care and educational programs.
Check out the video above to see the moment the painting was sold at Christie's