Chad Hurley, the founder and chief executive of YouTube, will confirm the milestone on the company's official blog later today.
Three years ago, when Google purchased YouTube, the site was serving 100m streams a day.
In the post, Hurley reminisces about the video-sharing website's early days before it was sold to Google for $1.65bn and promises new tools and improved quality in the future for users and advertisers alike.
Hurleys writes: "Three years ago today, Steve and I stood out in front of our offices and jokingly crowned ourselves the burger kings of media.
"We'd just made headlines by joining with Google in our shared goal of organizing the world's information [in our case, video] and making it easily and quickly accessible to anyone, anywhere.
"Today, I'm proud to say that we have been serving well over 1bn views a day on YouTube. This is great moment in our short history and we owe it all to you."
He writes at the end of the post: "As bandwidth has increased, so has our video quality. As we've started to see demand for longer, full-length content, we've brought more shows and movies to the site.
"There are now more ways than ever to make and consume content, and more of you are looking to turn your hobby into a real business.
"We're working hard to keep up with the fast pace of technology to bring you everything you would expect from the world's largest video site -- better quality; a full spectrum of choices and tools for users content partners, and advertisers; and ways to make the YouTube experience your own anywhere anytime."
Separately, .
If the deal goes through, users will be able to catch up on the last 30 days of programming, for free, supported by advertising.