Its debut was the second biggest April opening in history, behind only Furious 7's $147.2m (£104m) launch in 2015.
According to the studio, Jon Favreau's film also made an estimated $136.1m (£96m) outside the US and Canada.
Comedy sequel Barbershop: The Next Cut came a distant second, with opening weekend takings of $20.2m (£14.2m).
Disney has achieved success of late with transforming its classic cartoons into live-action remakes, including Alice in Wonderland, Cinderella and Sleeping Beauty makeover Maleficent.
The Jungle Book is is a mixture of live action featuring Neel Sethi as Mowgli, with the rest of the footage created with animation.
It features computer-generated versions of such familiar characters as Baloo the bear, Kaa the snake and Shere Khan the tiger.
Bill Murray, Scarlett Johansson and Idris Elba lend their voices to the roles, with Christopher Walken and Sir Ben Kingsley voicing other characters.
Slapstick comedy The Boss slipped to third place in its second weekend in cinemas, taking $10.2m (£7.2m) between Friday and Sunday.
Batman v Superman: Dawn of Justice and Disney animation Zootopia - released as Zootropolis in the UK - round out this week's top five.

He won a by-election in Clifton-with-Maidenway with almost 70% of the vote, beating the Conservative candidate who took 15% of the vote.
The vacancy in the ward was opened up after Liberal Democrat Ruth Pentney died earlier this year.
Mr Sanders lost his Torbay seat to Conservative Kevin Foster in May's general election after 18 years.

The 37-year-old victim was walking in the Downfine Walk area of the Turf Lodge estate when he was approached by two men near the Holy Trinity Centre.
They dragged him through an alleyway before shooting him once in each calf and once in the thigh. His injuries are not believed to be life-threatening.
The attack happened at about 18:30 GMT on Friday.
Police have appealed for witnesses to contact them.
A 15-year-old boy was shot in the leg in the nearby Ballymurphy estate on Thursday morning.
SDLP Councillor Tim Attwood said:  "This is the second vicious gun attack in west Belfast in two days, following the shooting of a teenager in Ballymurphy on Thursday.
"The cowardly men, wearing hoods, engaged in these attacks have no place in our community.
"Everybody who believes in human rights and justice must condemn these attacks and give their unequivocal backing to the PSNI in their efforts to police our communities."

York Minster Police has been given the same powers as regular police officers within the minster's precinct.
Eight constables and the cathedral's head of security were sworn in at a special ceremony on Tuesday.
The force, established in the 13th Century, lost its powers in the 1930s when officers ceased to be attested.
York Minster is one of only a handful of cathedrals to maintain its own police force. Those that do have a police force include Liverpool's Anglican Cathedral, Canterbury Cathedral, St Peter's Basilica in Rome, and Washington's National Cathedral in Washington DC.
Mark Sutcliffe, Inspector of Cathedral Police at York Minster, said: "I feel very proud of the whole team for attaining their attestation.
"It has been an important day for everyone involved but also a significant milestone in the history of the force, which has played an important role in life at the cathedral for hundreds of years.
"The attestation and training the officers have completed ensures our cathedral constables have the professional skills and powers necessary to execute their duties."
Powers were returned to the force following the signing of a memorandum of understanding between the Chapter of York and the chief constable of North Yorkshire.
The memorandum recognises that although security provision inside the minster and its precinct remain the responsibility of cathedral constables, North Yorkshire Police will be responsible for investigating all crime.
Any arrested people will be handed over to North Yorkshire Police for transport and processing and the force will be responsible for the submission of prosecution files.
The Minster Police constabulary is thought to be the oldest continuing police service in the country.
Disney's new version of The Jungle Book has taken a big bite out of the US box office, topping it with $103.6m (£73.1m) in its opening weekend.
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Former Liberal Democrat Torbay MP Adrian Sanders has been elected to Torbay Council.
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A man has been shot three times in the legs in west Belfast.
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A cathedral police force has been given back the power of arrest for the first time in nearly 80 years.