The Cowboys are owned by oilman Jerry Jones, who bought the team and lease to its stadium for $150 million in 1989.
The business magazine said the only other sports team on Earth worth more than the Cowboys is the Manchester United soccer team, valued at $2.23 billion.
Forbes said the Cowboys racked up $500 million in total revenue last year and produced operating income of $227 million, pointing out that is $108 million more than any other football team, and more than either the entire National Basketball Association or National Hockey League.
After the Cowboys, the next most valuable NFL franchises are New England at $1.64 billion, Washington at $1.6 billion, the New York Giants at $1.47 billion and Houston at $1.31 billion.
The rest of the league's 32 teams aren't doing too shabby, either. Even the Bottom 5 are up there: Atlanta $837 million, Buffalo $805 million, Oakland, $785 million, St. Louis $780 million and Jacksonville $770 million.