The news comes after astronomers in the Netherlands found asteroids currently considered safe, can still hit us many years from now.
The report noted that given the PZ39 is classified as a PHO, if it happens to pierce through our atmosphere and collide with the Earth's surface, it has the potential for destruction on a continental, or global scale.
NASA said potentially hazardous comets can also come "unusually close" to Earth.
What's alarming is the estimated size of the asteroid.
NASA has confirmed that an asteroid larger than the tallest man-made structure in the world is now travelling towards Earth at a speed of nearly 34,000 miles per hour.
However, NASA has said the risk of dying from an asteroid impact in the foreseeable future is very slim.
A binary asteroid is a two-asteroid system that has one common center. Since it traces an Earth-crossing orbit, the chances of a collision remain high every time it moves this way.
"It is an Apollo asteroid which is known to intersect Earth's path around the Sun from time to time".
At its closest, the space rock will approach Earth from about 0.03860 astronomical units. However, extremely lucky for us, it will be a distance of around 3.6 million miles away - about 15 times the distance of our moon.