The auction for Robert Kraft's Super Bowl LI ring is over -- and the final bid was OVER A MILLION BUCKS!!

$1,025,000 to be exact!!

As we previously reported, the New England Patriots owner offered up the ring to help raise money for COVID-19 relief as part of Michael Rubin's All In Challenge.

And, remember, this ring was from the legendary 28-3 Super Bowl comeback against the Atlanta Falcons in 2017 ... the greatest comeback in Super Bowl history!

As far as the jewelry itself -- it's one of the biggest championship rings ever created ... weighing 5.1 carats and featuring 10-karat white gold and nearly 300 diamonds.

So far, the winning bidder has not been identified -- but obviously, it's someone with a LOT of money to spend!

In addition to the ring, Kraft says he'll hand-deliver it to the auction's highest bidder in his personal trophy room ... and says if the winner is out of state, he'll send the team jet to pick them up!

That's not all ... RK says the trip will come with a personal tour of the Pats facilities -- and maybe even a few meals with the 78-year-old!!