The money raised through the auction will go to DiCaprio's environmental and wildlife conservation efforts.
Thirty-three works by contemporary artists including Ed Ruscha, Julian Schnabel, Banksy, Elizabeth Peyton, Takashi Murakami and Raymond Pettibon were on the block, with many fetching record prices, the Hollywood Reporter said.
DiCaprio's 'The Great Gatsby' co-star and close friend Tobey Maguire attended the auction and put in the winning bid for Sergej Jensen's Untitled (USD 262,500.
Bradley Cooper, Mark Ruffalo and Salma Hayek also were at the auction.
The money raised will be earmarked for conservation projects, selected by the Leonardo DiCaprio Foundation.