The previous largest single jackpot of $758.7 million was won last year by Mavis Wanczyk, a 53-year-old mother of two from MA.
Mega Millions officials say no tickets matched all six numbers to claim the estimated $1 billion grand prize in Friday night's drawing.
The victor might opt for the cash prize of more than $270 million, from which the federal government will take 25% right away, and more later.
Because no Mega Millions winners emerged, the next scheduled drawing on Tuesday was projected to be worth a record $1.6 billion.
The 24 semi-weekly Mega Millions draws have failed to produce a top victor since July 24, when an 11-member office pool in Santa Clara County, California, hit a £415million ($543m) jackpot.
Two lottery jackpots continue to grow after no winners were selected in this weekend's drawings.
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The lump sum cash payout is estimated at $354.3 million and the next drawing for the Powerball is set for Wednesday.
The numbers drawn Saturday were 62-16-54-57-69 while the Powerball was 23.
Check your ticket, though, because five people won $1 million in the drawing, including one person in New Jersey.
The jackpot has been growing since July, when a group of California office workers won $543 million. Powerball has jumped since the last winner-a NY man who won on August 11. But because the player added the Power Play for an extra $1, the prize is $2 million. There are smaller prizes, from $2 up to $1 million, for matching some, but not all, numbers.
Tickets for Mega Millions are $2, and the deadline is 10:50 p.m. ET in most states.
If more than one victor is picked, the jackpot would be divided proportionately, as happened when the previous Mega Millions record of $656 million was drawn in March 2012 and was shared by winners in Kansas, Illinois and Maryland, a lottery official said.