“Harry Potter and the Deathly Hallows: Part 1” slayed the competition in its weekend debut with a franchise best $125.1 million in U.S. and Canadian theaters, according to studio estimates yesterday.

Last week’s No 1. film, animated comedy “Megamind,” came in a distant second with $16.2 million, just ahead of “Unstoppable” with $13.1 million.

Given the popularity of the “Potter” movies about the boy wizard — six previous films have raked in a total $5.4 billion at global box offices — the other movies hadn’t been expected to work much magic at box offices.

The $125.1 million for “Deathly Hallows: Part 1” beat the previous best weekend debut for a “Potter” film in the U.S. and Canada, which was $102.7 million for “Harry Potter and the Goblet of Fire” in November 2005.

“Deathly Hallows: Part 1” rode up the box office charts to land at No. 6 on the list of all-time best weekend debuts, just behind the $128.1 million from “Iron Man 2” earlier this year.