The band's 13th album in 25 years, released on Monday, knocked Eminem's Encore off the top of the album chart after three weeks out front.
Also new to the top five was Kylie Minogue's Ultimate Kylie, which entered the album charts at number four.
Girls Aloud held on to number one in the singles chart with a cover version of the Pretenders' I'll Stand By You.
Other new entries in the top 10 included Geri Halliwell's Ride It, Christina Aguilera's Tilt Ya Head Back, Brian McFadden's Irish Son and Shania Twain's Party for Two.
The U2 single Vertigo, the first release from How to Dismantle An Atomic Bomb, topped the UK singles chart earlier this month.
It is expected to be followed by Because Of You - also on the album - after U2 shot the video in New York last week, where they brought traffic in the city to a standstill.
The Irish rockers went on to play a surprise concert under New York's Brooklyn Bridge, which will be screened on MTV next month.
Bono has also taken part in the recent rerecording of the charity hit Do They Know It's Christmas?, reprising the original lyric that he sung in 1984.
The Band Aid 20 track is released in stores on Monday and is expected to top the charts in the coming weeks.