A 20 million ton asteroid, dubbed as "the continent killer", is currently heading towards Earth and could be on a massive collision with the planet in approximately 25 years.

The asteroid, Apophis, is heading towards the planet at 23,000 miles per hour, according to Alex Hannaford of the Telegraph. The asteroid is more than 800 feet wide and is made of a mixture of rock, ice and dust.

According to Hannaford, there are two possible scenarios when this happens.

"The first, and thankfully most likely, is that Apophis will fly by in April 2029, the year it is due to make its first ‘close approach', and that's the last we'll hear of it," said Hannaford.

The second scenario is more grim. According to Hannaford, during the approach the asteroid will pass through what scientists refer to as a ‘keyhole', a small area of space that can alter the asteroid's course due to Earth's gravity.

"If this happens, it'll be on a massive collision course with us seven years later, likely to be April 13, 2036 - Easter Sunday," the report said.

However, NASA's Jet Propulsion Laboratory in California has said that it is too early to predict which of the two possibilities is more likely.

"We don't know precisely where Apophis is headed but we will soon, when it becomes observable again, probably in 2012 or 2013," said Paul Chodas of the U.S. space agency's Near Earth Object (NEO).

"Once we get radar on it we will be able to nail down its orbit and we will know the chances of it going through the keyhole and hitting in 2036. By that time, it could be a four in a million chance, and that could very well go down to zero," he added.