The One Below store in Bradford is the latest in the chain's shops, covers 12,000 sq ft and boasts more than 8,000 items as being for sale.
The new store is based the Bradford Forster Square Retail Park.
The chain was set up by Poundworld founders Christopher Edwards, 36, and Christopher Edwards Senior and claims to be the only UK discount chain selling everything for £1 or under.
Since launching in March, the independent retailer has recently opened in 57 towns and cities UK-wide, with many stores experiencing ‘stampedes’ of shoppers waiting for the doors to open.
Customer Jessica Mitchell, 18, from Bradford, said: "This shop is bigger, better and cheaper than any other shop I've been to.
"It's absolutely massive, I can barely find my around it it's so huge.
"I've never seen aisles as wide as the ones they have here, which is really good because it means people don't bump into each other.
One Below stocks everything from partware to groceries to toys.
Prior to the opening, One Below Retail Limited managing director Christopher Edwards said: “We’re excited to launch our One Below superstore in Bradford.
“We will have the UK’s biggest range of items for £1 or under, sold under one roof. We offer stand-out value and a simple, fresh shopping experience for bargain hunters.”
Many of the former Poundworld staff who lost their jobs when the old Poundworld shop went into administration in 2018 have been given new employment at the store.