Total gross merchandise volume, a measure of sales, matched the 2014 US dollar total of $9.3 billion just after 12:30 pm (0430 GMT), after the promotion began at midnight.
"The 2015 sale has eclipsed last year's final results in a little over half the time," it said.
In an earlier release Alibaba's chief executive officer Daniel Zhang said.
"The whole world will witness the power of Chinese consumption this November 11."
"Singles Day" is not a traditional Chinese festival, but Alibaba has been pushing November 11 -- 11/11 being a date heavy on ones -- since 2009 as it looks to tap an expanding army of Internet shoppers in China, which has the world's biggest online population of 668 million.
At first it was marketed as an "anti-Valentine's Day", featuring hefty discounts to lure the country's singletons and price-sensitive buyers.
With sales hitting new highs year after year, "Singles Day" has become a lucrative business opportunity embraced by all online retailers in China, with competition between them turning increasingly fierce.
The event has received vocal support from the government at a time when China's economic expansion is slowing and Beijing is trying to transform the growth model into a more sustainable one driven by consumption.
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