The customised doll for the baby girl includes 160 of the gems, plus white gold jewellery.
The mega-rich singers also threw a lavish princess-themed party for close family and pals to mark her special day. The bash in New York included 60,000 pounds of white and pink roses as decorations and a cake costing 1,500 pounds, reported Sun online.
They spent another 20,000 pounds on accessories and toys for their one-year-old daughter's young guests, which included jewellery sets, princess costumes and playhouses.
Adults were given elaborate goodie bags including concert tickets and personalised gold pens with Blue Ivy and each guest's name engraved on them.
Knowles, 31, and the 43-year-old were declared the world's highest-paid celebrity couple last year after raking in 48 million pounds in 12 months.
They spent weeks planning the celebrations for their daughter, who turned one last Monday.
"Nothing has been too big or expensive for their little princess. They wanted her first birthday to set the tone for the rest of her life. They work hard for their money and the first thing they want to spend it on is their baby girl," a source said.
"It is hard to imagine how they can top this next year