The original observations revealed the asteroid's next approach to our vicinity would be in October 2017 but its orbit meant that it could not be tracked during the last five years, leaving astronomers unsure on how close it would come.
The lump of space rock, which is roughly 25m long and travelling at 14km per second (50,400kph), will pass between Earth and the moon, but will still be 8,000km away from the orbit of geostationary satellites, which circle the globe at a distance of 36,000km.
"We know for sure that there is no possibility for this object to hit the Earth", said Detlef Koschny of ESA's "Near Earth Objects" research team. "That's the most important thing to say".
An asteroid of similar size entered our atmosphere in February 2013, causing widespread destruction in Russia's southern Ural region. However, with the help of Chile's Very Large Telescope, they've managed to track down and calculate the rock's really not-great-enough-for-comfort distance.
"It's damn close", said European Space Operations Centre head honcho Rolf Densing.
"The farthest satellites are 36,000 kilometers out, so this is indeed a close miss", he told AFP, adding it was nothing to lose sleep over.
'As close as it is right now, I think this prediction is pretty safe, meaning that it will miss'.
'Physical properties of an asteroid (composition, structure, size) and its velocity relative to the Earth will influence the effects on an impact.
Researchers for the various space programmes across the globe now have no planetary defence systems in place - they are focused on early warning - and at present ideas of protecting the Earth from an asteroid heading towards it remain in the realm of science fiction. Also, it would likely behave very differently to the Chelyabinsk object.
More than 1,500 people were injured by the shock wave from the explosion, estimated to be as strong as 20 Hiroshima atomic bombs, as it landed near the city of Chelyabinsk.
It could pass just 4,200 miles (6,800 kilometers) from Earth for the first time since it went out of range in 2012, Nasa says.
But Earth's atmosphere stretches only a few hundred kilometres far, and TC4 will comfortably miss it.