The 1938 comic book marks the first appearance of Superman, and is considered a gem among comic book fans, according to Heritage Auctions.
It was expected to sell for $750,000 but fetched $956,000 instead, setting a record for a copy of Action Comics #1, Heritage Auctions said.
About 100 copies of the comic book are believed to exist decades after production.
“Few copies of this comic survive, let alone come to auction with such a bright cover,” said Lon Allen, managing director of comics and comic art at Heritage Auctions
The comic book sold Thursday was part of a collection owned by a fan who bought it in the 1990s for $26,000, Dallas-based Heritage Auctions said.
When it first came out in 1938, Action Comics #1 cost 10 cents.