The winning tickets, sold in California and Wisconsin, matched all six numbers: 6 - 14 - 25 - 33 - 46 with a Powerball number of 17.
The winners will split the jackpot, which is the seventh-largest in Powerball's history. Each ticket is worth an annuitized $316.3 million or $225.1 million cash -- both pre-tax -- Powerball said.
One winning ticket was sold at a 7-Eleven store in Sacramento, according to California Lottery officials. The location for the Wisconsin ticket has not been released.
RELATED: What to consider if you win the lottery
If you didn't hit the big prize, don't toss your ticket just yet.
More than 3 million tickets won prizes in Wednesday's drawing, ranging from $4 to $2 million, Powerball said.
Two Match 5 + Power Play tickets worth $2 million each were sold in Florida and Georgia. And 12 Match 5 tickets worth $1 million each were sold in Arizona, California, Florida, Indiana, Maryland, Missouri, New Jersey, New York, and Texas.
It's the first time someone has hit the jackpot since October 4, which was 40 drawings ago, when a single ticket sold in California matched all six numbers. That was the fifth-largest jackpot in Powerball history and seventh-largest jackpot in U.S. lottery history.
SEE ALSO: The largest lottery jackpots in history
The biggest all-time lottery jackpot was a $1.5863 billion Powerball prize in 2016.
Powerball tickets, which cost $2 each, are sold in 45 states, as well as the District of Columbia, Puerto Rico and the U.S. Virgin Islands.
The odds of winning the Powerball jackpot are 1 in 292.2 million.
SEE ALSO: Why does the Powerball jackpot get so high?
Kelly McCleary of CNN contributed to this report.