Shrek Forever After takes US box office by storm
The film, which features the voices of Mike Myers, Eddie Murphy, Cameron Diaz, Antonio Banderas and Julie Andrews, is the fourth film in the popular comedy series.
Last week's number one Iron Man dropped to second place, ahead of Robin Hood.
Letters to Juliet and Just Wright also fell two spots to take the fourth and fifth positions.
MacGruber, starring Will Forte, Kristen Wiig, Ryan Phillippe and Val Kilmer, debuted at six. The film tells the story of ex-special operative MacGruber, who is called back into action to take down his archenemy Dieter Von Cunth.
Date Night remained at seven, while A Nightmare on Elm Street dropped two places to eight.
How to Train your Dragon slipped from fifth to ninth position, with new film Kites rounding off the top ten.