While the chances for collision are low, NASA flagged the asteroid’s path as potentially having three different impact points. It was identified by the groups Centre for Near-Earth Object Studies.
The asteroid has been labelled 2018 VP1 and is expected to get close to our planet on November 2, one day before the US poll.
It was discovered in 2018 by NASA, and could come as close as 4,700 feet from Earth.
NASA data said the asteroid has a 0.41 percent chance of hitting our planet.
The space agency said a direct impact is not likely “based on 21 observations spanning 12.968” days.
Asteroid news: NASA has flagged an asteroid that could hit Earth the day before the US election
Researchers from NASA added the asteroid’s chances of entering orbit are slim, at a one in 240 chance.
Even if it does enter the atmosphere, the asteroid is only around six and a half feet in diameter.
Scientists suggest the asteroid, if it enters orbit, would break apart on entry and create a bright meteor.
The asteroid, because of its small size, is not considered a “potentially hazardous object” by NASA metrics.
Asteroid news: 2018 VP1 is nearly seven feet in diameter and will head close to Earth on November 2
NASA has said previously that the probability of a city destroying asteroid hitting Earth is 0.1 percent every year, and even if it does hit our planet there is a 70 percent chance it lands in the ocean.
The biggest known threat to Earth from an asteroid is measured to be a huge 4,200 feet in diameter.
It is expected to fly near our planet in 861 years.
But it has been given a 99.988 percent chance of missing Earth completely.
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It comes after a car-sized asteroid narrowly missed the Earth last weekend.
Known as 2020QG, the space rock flew just 1,830 miles over the southern Indian Ocean on August 16.
It is the closest any asteroid has flown past Earth without impact on record.
2020QG was estimated to measure between 2.9 and 6.4 meters in diameter, making it roughly the same size as a car.
Asteroid news: The asteroid is expected to get as close as 4,700 feet to Earth
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NASA admitted that it “didn’t see it coming” as it came from the direction of the sun.
Paul Choda, director of NASA’s Centre for Near Earth Objects, added: “There’s not much we can do about detecting inbound asteroids coming from the sunward direction, as asteroids are detected using optical telescopes only (like ZTF), and we can only search for them in the night sky.
“It’s really cool to see a small asteroid come by this close, because we can see the Earth’s gravity dramatically bend its trajectory.
“Our calculations show that this asteroid got turned by 45 degrees or so as it swung by our planet.”