The wicked witch who has haunted generations of children raked in $70 million, according to industry tracker Exhibitor Relations, in a flick that not only casts Jolie in the title role, but was also produced by the megastar.
Meanwhile, "X-Men: Days of Future Past," a time-bending movie that brought in $110.6 million over Memorial Day weekend, sank to second place with only $32.6 million in its second weekend out.
And cowboy comedy "A Million Ways to Die in the West," which stars comedian Seth MacFarlane as a sheep farmer in 1880s Arizona, debuted in third place with $17.1 million.
The weekend was big for classic villains and monsters, with "Godzilla" landing in fourth place with $12.2 million.
The movie features "Breaking Bad" star Bryan Cranston as a tortured Japanese-speaking scientist battling to save humanity from the looming creature.
In fifth was romantic comedy "Blended," featuring Adam Sandler and Drew Barrymore, which scored $8.4 million in ticket sales.
"Neighbors" starring Seth Rogen and Rose Byrne as a couple living next door to a raucous fraternity house, earned $7.7 million and landed in sixth.
Comic-book favorite "The Amazing Spider-Man 2" meanwhile fell two places to seventh, earning $3.8 million.
Trailing just behind in eighth place with $3.7 million was "Million Dollar Arm," starring Jon Hamm.
The movie tells the true story of a Major League Baseball agent who goes to India to find the next big thing among cricket players.
Foodie flick "Chef," the story of a fictitious, restless chef who decides to embark on a food-truck adventure remained in ninth place with $2.0 million.
And rounding out the top ten with $1.4 million was "The Other Woman," a romantic comedy starring Cameron Diaz.