One-fifth of children aged five to 14 must work to survive for little pay, development charity EveryChild said today.
Many work in hazardous conditions from daybreak to past midnight, harming their development.
The charity's warning comes on World Day Against Child Labour, which seeks to draw attention to the hardship some of the world's children experience.
EveryChild regional director for Asia Jane Banez-Ockelford said: "Just as children in the UK are making plans for their summer holidays it is shocking to think that one-fifth of all five- to 15-year-olds around the globe are in some form of child labour. Children need to be in safe nurturing environments, not working as slaves for cruel and inhumane employers.
"If we are serious about tackling global poverty and ensuring education for all then we need governments to start taking positive steps to prevent the next generation of children from a life of hardship and suffering."
127 million of the world's child labourers are from Asia and the majority work in the agriculture sector.
About 132 million are young girls and boys helping to produce food and beverages for sale around the world.
This sector is one of the most dangerous for children; hazards that adult workers face are worse for children as their bodies and minds are still developing and they lack work experience.
Five international organisations have launched a new global partnership today with the International Labour Organisation (ILO) to tackle child labour in agriculture.
"It is only by mainstreaming child labour issues into mandates and policies and by working together that we can strengthen the worldwide movement to eliminate child labour," commented ILO director-general Juan Somavia.
"Through a concerted effort, we can reach the target of ending the worst forms of child labour by 2016."
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