<p>A high-quality global precipitation product with finer spatiotemporal resolutions and long-term temporal coverage is critical for a variety of science communities (e.g., hydrology, meteorology, climatology, ecology, and agriculture). Here, a novel multi-source precipitation data fusion (MPDF) algorithm, which considers the dependency of precipitation errors on seasonality, was proposed to fully take advantage of the complementary strengths from satellite, reanalysis, and gauge data for generating a higher-quality global precipitation product. Two merging schemes, which used six products (including four satellite precipitation products: IMERG-Late, GSMaP-MVK, TMPA-RT, and PERSIANN-CCS; one reanalysis precipitation product ERA5; one ground-based precipitation product CPCU) and three products (i.e., IMERG-Late, ERA5, and CPCU) as input data sources of the MPDF algorithm respectively, were designed to generate two different high-quality multi-source merged global precipitation products (MGP), i.e., MGP-6P and MGP-3P. The results show that the proposed MPDF algorithm is effective in considering the advantages from satellite, reanalysis, and gauge data. Global comparisons indicate that the MGP suite products with regard to daily mean precipitation share a similar spatial pattern with other global precipitation products (i.e., MSWEP, IMERG-Final, GSMaP-Gauge, ERA5, and CPCU) in most overland regions globally; while large differences between these seven products occur in Australia, southeast China, Europe, near the equator of Africa and South America, and so on. Overall, MGP-3P substantially performs better than the other five research-quality products (i.e., MGP-6P, MSWEP, IMERG-Final, GSMaP-Gauge, and ERA5) in the ground validation on the Chinese mainland, with the highest POD, CC and lowest RMSE of 0.85, 0.71, and 1.21 mm, respectively, at a 3 hourly scale. Especially, the accuracy and detection capability of MGP-3P are the best in most hourly rainfall intensity groups. The MGP-3P product can provide a new precipitation data option for research and applications in the field of hydrology, meteorology, climatology, ecology, and agriculture. MGP-3P (also known as MGP) Version 1.1 is available at the following link: <a href="https://www.zenodo.org/record/7386441#.Y8zr4clBxD9" target="_blank" rel="noopener">https://www.zenodo.org/record/7386441#.Y8zr4clBxD9</a> (Chen et al., 2022a).</p>