The space rock will zoom by at an eighth of the distance from the Earth to the Moon -- far enough to just miss our geostationary satellites orbiting at about 36,000 kilometres, according to the European Space Agency (ESA).
"It will not hit the Earth," said Detlef Koschny of ESA's "Near Earth Objects" research team. "That's the most important thing to say."
The asteroid, dubbed TC4, first flitted past our planet in October 2012 -- then at about double the distance before disappearing. It is about 15-30 metres (49-98 feet) long.
Scientists expected the asteroid to return for a near-Earth rendezvous this year, but did not know how far.
Now, the European Southern Observatory's Very Large Telescope in Chile has managed to track down the rock and determine its distance.
"The farthest satellites are 36,000 kilometres out, so this is indeed a close miss," he told AFP, adding it was nothing to lose sleep over.
"As close as it is right now, I think this prediction is pretty safe... meaning that it will miss."
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.