The person submitted an official claim form on Monday, the day the ticket was set to expire.
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The lottery will vet the claim to ensure it's legitimate, a process that can take weeks or even months, officials said.
PREVIOUS REPORT: Unclaimed $1.5M Powerball ticket sold in Bay Area set to expire next week
The ticket was purchased at a Mobil gas station at 15380 Los Gatos Blvd. and matched the five numbers --19, 36, 37, 46 and 56 -- from the Oct. 26 drawing, missing only the Powerball number 24. The ticket is worth $1,556,855, but that money would go to public school funding if wasn't claimed by Monday's deadline.
Another ticket matching the same five numbers from the Oct. 26 drawing was purchased in Southern California and has already been claimed.
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California Lottery officials say more than $1 billion in unclaimed prizes have gone to the state's schools since lottery tickets first went on sale in California in 1985.
More details on claiming lottery winnings can be found at here.