Published Sunday, 29 November 2009
I Dreamed A Dream sold more than 410,000 copies - the best first week's sale for a debut album since records began.
The 48-year-old Britain's Got Talent finalist smashed efforts from JLS, Black Eyed Peas and Queen, who were forced to settle for second, third and fourth spots respectively.
Her cover of the Rolling Stones classic Wild Horses entered the singles charts in ninth place.
Cowell, the pop mogul who masterminded her rise from obscurity, said: "I'm incredibly proud of Susan as well as being delighted for her. The success could not have happened to a lovelier person. She did it her way and made a dream come true.
"In Britain's Got Talent she opened her mouth and the world fell in love with her, which is why her album has been the fastest selling of any woman making her debut. She's amazing."
In a statement released through her record label SYCO, Boyle said simply: "It's fantastic."
I Dreamed a Dream, which outsold the rest of the top five albums combined, also appeared to be on course for success across the Atlantic and in several countries across the world.
Her Sony spokeswoman said: "In America, Susan is already outselling Rihanna, Lady Gaga and 50 Cent with a projected first week sales figures of around a million.
"In doing so she is set to break Eminem's previous record for highest first week US sales this year.
"Susan has broken retail records around the world including selling 80,000 copies in four short sales windows on QVC and becoming the biggest pre-ordered album in the history of Amazon."
Martin Talbot, of the Official Charts Company, said: "Susan Boyle's achievement is quite phenomenal. After all of the excitement surrounding her appearance on Britain's Got Talent, everyone expected her to make a big impact when she released her first music - but to arrive with such a bang is exceptional."
Ex-reality stars continue to figure strongly in the Official UK Charts Company album figures. Last week's No 1, Leona Lewis' Echo was in fifth.
Michael Buble's Crazy Love record was confirmed as sixth while Lady Gaga's The Fame was seventh. Snow Patrol, Robbie Williams and Will Young completed the top ten.
In the singles charts, The Official BBC Children in Need Medley by Peter Kay's Animated All Stars, beat another charity effort, You Are Not Alone by The X Factor finalists, to top spot.
Whatcha Say by Jason Derulo finished third, Black Eyed Peas' Meet Me Halfway was fourth, Lady Gaga's Bad Romance climbed to fifth while Rihanna's new release Russian Roulette finished surprisingly low at six.
Tik Tok by Kesha, Fight For This Love by Cheryl Cole, Boyle and Leona Lewis' Happy completed the top 10.